OCI Construction Group Cairo, Egypt / 24 January, 2011 10:15 AM OCI Signs Agreement with Emaar Misr to Execute Works Valued at a Total of EGP 800 million Orascom Construction Industries (OCI) announced today that it has signed a contracting agreement with Emaar Misr, the wholly owned subsidiary of global developer Emaar Properties PJSC, to execute commercial work for the developer's Mivida and Marassi projects for a total value of EGP 800 million. OCI will execute Villas of Package 18 and Village D (Type V4) at Marassi, located on the North Coast of Egypt. Additionally, OCI will carry out and complete Estate Villas (Parcel 4), Palmera Townhomes (Parcel 2) and other Villas at Mivida situated in New Cairo. The scope of the work includes concrete skeleton in addition to the internal and external finishes of villas and townhomes. The works are expected to be completed in 22 months. OCI Construction Group Managing Director, Osama Bishai commented, "OCI has played a significant role in Emaar Misr's projects since 2007 and was instrumental in the early delivery of several packages, most recently the first phase of the Catania Apartment Buildings in December. We will continue to execute further work for top regional real estate developers who share OCI's vision of quality and timely delivery to clients." Emaar Misr CEO, Mohamed El Dahan commented, "We are pleased to award OCI further work on our flagship projects in Egypt. OCI, one of the biggest construction firms in the region, has consistently delivered quality and timeliness to Emaar Misr which Emaar requires in all of its projects across the world." Emaar Misr General Manager, Hazem Ashry commented, "Mivida combines a perfect balance between luxury, high quality standards and value for money and our signing with OCI reflects our commitment to deliver our high international quality standards units on the promised delivery dates." About OCI Construction Group The Construction Group ranks among the top global contractors and operates under three distinct brands. The three groups provide a range of construction services in key regional markets in the Middle East and North Africa in addition to Europe, Africa and Central Asia. The Group primarily focuses on infrastructure (energy and related infrastructure including oil & gas, power and petrochemicals / social infrastructure including large-scale educational campuses and healthcare facilities / water including wastewater and desalination), transportation (including roads, airports, ports and railway), industrial and high-end commercial projects. To complement the construction business, OCI also owns and operates National Steel Fabrication, the largest manufacturer of fabricated steel products in the Middle East, and has investments in manufacturers of glass curtain walling, paints and concrete pipes. OCI recently announced a joint venture with Morgan Stanley to invest in infrastructure assets in the Middle East and Africa. The proposed joint venture is positioned to capitalize on Morgan Stanley Infrastructure's investing expertise and its global reach as well OCI's local and regional awareness of infrastructure needs. About Emaar Misr Emaar Misr for Development S.A.E is the wholly owned subsidiary of the UAE-based Emaar Properties PJSC, a global property developer. Emaar Misr is one of the largest foreign direct investor in Egypt's real estate sector with an investment portfolio of EGP 31.67 billion. Emaar has identified Egypt as a key market for growth, and has announced four key projects: The EGP 12 billion Uptown Cairo; the EGP 10 billion Marassi, a 1,544-acre tourist and residential destination at Sidi Abdul Rahman; the EGP 6 billion Mivida residential community located at the fifth district; and the EGP 4 billion commercial cum residential development on the Cairo - Alexandria desert road, which also features the largest outdoor shopping and entertainment destinations in the country, Cairo Gate. For additional information contact: For additional information on OCI: OCI Investor Relations Department: www.orascomci.com Omar Darwazah Email: omar.darwazah@orascomci.com OCI stock symbols: OCIC.CA / OCIC EY / OCICqL / ORSD Erika Wakid Orascom Construction Industries (OCI) Email: erika.wakid@orascomci.com Nile City Towers - South Tower 2005A Corniche El Nil Cairo, Egypt Hassan Badrawi Director Tel: +202 2461 1036/0727/0917 Fax: +202 2461 9409 This information is provided by RNS The company news service from the London Stock Exchange END
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