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Y-o-Y backlog at Orascom’s Besix jumps 40.3% to $5bn for 9M Sep'19

New contract awards for nine-month period reached $2.3bn, marking an 8.4% increase compared to last year

Besix is working on Expo 2020 Dubai's Belgium and France pavilions. [representational image]
Pixabay
Besix is working on Expo 2020 Dubai's Belgium and France pavilions. [representational image]

Belgian construction group Besix, partly held by Egyptian contracting giant Orascom Construction, has recorded $4.97bn in standalone backlog for the first nine months ending 30 September 2019, marking a 40.3% increase Y-o-Y.
 
According to Orascom’s nine month financial results, which included the financial position of Besix, the Brussels-headquartered firm reported new contract awards worth $526.4m in the third quarter of 2019, signifying a 24.4% growth compared to last year.
 
Meanwhile, new awards for the nine-month period jumped 8.4% Y-o-Y to reach $2.3bn.
 
Besix is constructing its national pavilion — Belgium pavilion — and France pavilion at Expo 2020 Dubai.
 
The company alongside Orascom Construction is building the Grand Eyptian Museum, construction progress on which hit 93% in July 2019, under a 50-50 partnership.

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Construction Week - Issue 761
Mar 21, 2020