Egypt’s Orascom adds $650m to backlog in Q4 2017
Projects in Egypt accounted for the largest share, at approximately $580m and spread across a range of sectors, including renewable energy and commercial buildings
Egypt-headquartered contractor, Orascom Construction, has announced adding $650m of new awards to its backlog in the last quarter of 2017.
According to the part owner of Besix Group, projects in Egypt accounted for the largest share, at approximately $580m and spread across a range of sectors, including renewable energy, marine, and commercial buildings.
The group’s subsidiaries in the US also added new projects amounting to approximately $70m. These projects were mainly in the private sector, Orascom revealed.
Osama Bishai, chief executive officer of Orascom Construction, said: “We are maintaining our policy of securing quality projects, in which we have a competitive edge, and are pleased with the continued momentum across our bidding pipeline.
“We are also particularly proud of our recent investment in the 250 MW build-own-operate wind farm, as it underscores our strategy to pursue infrastructure investments that create new construction opportunities and long-term value for shareholders.”