Cairo--(Marketwire - July 11, 2007) - NEWS RELEASE
OCI Construction Group is Awarded New Airport Projects
OCI is awarded two contracts valued at US$ 127 million for the expansion of the
Borg-El Arab International Airport and the construction of a new air traffic
control tower at Cairo International Airport
Cairo, Egypt - 11 July 2007: Orascom Construction Industries ("OCI") has
announced that is has been awarded a US$ 127 million (EGP 720 million) in new
construction work on two major airports in Egypt. The first contract was awarded
to an OCI / BESIX joint venture with a total value of US$ 97 million (EGP 550
million) for the modernization and expansion of the Borg El-Arab International
Airport. The airport is situated 43 km from Alexandria, Egypt's second largest
city. The project is jointly funded by the Japan Bank for International
Cooperation and the National Bank of Egypt. The scope of work includes the
construction of a new passenger terminal with a capacity of 1,000 passengers per
hour and is equipped with state-of-the-art aeronautical equipment in accordance
with standards set by the International Civil Aviation Organization. It also
includes the construction of a cargo terminal with a capacity of 10,000 tons per
year, aircraft parking aprons and taxiways, air traffic control towers with
necessary auxiliary buildings, an aircraft fuel station in addition to various
administrative and utility structures.
The second contract was awarded to OCI with a total value of US$ 30 million (EGP
170 million) for the construction of a new air traffic control tower at Cairo
International Airport. The project is funded by the Egyptian Holding Company for
Airports and Air Navigation. The scope of work encompasses the construction of a
100-meter high concrete tower structure with a steel and glass control room on
top along with maintenance and antenna systems. The project also includes the
construction of four 36-meter high buildings for radar equipment in addition to
various auxiliary and utility structures.
OCI Construction Group Managing Director, Osama Bishai commented "we are pleased
with these two competitively won awards that represent work in a vital sector.
We are proud to partake in the development of the aviation infrastructure in
Egypt. We shall continue to focus on the development of our core competencies in
infrastructure projects with a primary focus on the power, transportation and
oil & gas sectors in Egypt."
As a contractor, OCI provides engineering, procurement and construction services
on large, complex and demanding industrial, commercial, water/sewage,
transportation, telecommunications, maritime, tourism and railway projects for
private and public customers principally in the Middle East, Africa and Central
Asia. The OCI Construction Group is active in over 100 projects in more than 20
countries.
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For additional information CONTACT:
Investor Relations Department:
Hassan H. Badrawi
Email: hassan.badrawi@orascomci.com
Omar Darwazah
Email: omar.darwazah@orascomci.com
Tel: +202 2461 1039/1036
Fax: +202 2461 9409
Orascom Construction Industries
Orascom Construction Industries (OCI) is a leading cement producer and
construction contractor active in emerging markets. Based in Cairo, we employ
more than 40,000 people in over 20 countries. Working together with our
employees, business partners and customers, we are helping to build the future
in developing countries around the world.
As a cement producer, we own and operate cement plants in Egypt, Algeria,
Turkey, Pakistan, northern Iraq, and Spain which have a combined annual
production capacity approaching 21 million tonnes. Our new investments in
northern Iraq, Turkey, Nigeria, Algeria, the United Arab Emirates, Saudi Arabia
and Syria will increase our annual production capacity to 39 million tonnes. Our
Cement Group exports from Egypt and Algeria to customers in more than 30
countries including the USA, Europe, Africa and the Middle East. We produce and
distribute aggregates and ready-mix concrete in Spain, Egypt and Algeria. We
also manufacture cement bags in Egypt and Algeria.
As a contractor, we provide engineering, procurement and construction services
on large, complex and demanding industrial, commercial, water/sewage,
transportation, telecommunications, maritime, tourism and railway projects for
private and public customers principally in the Middle East, Africa and Central
Asia. Our Construction Group is active in over 100 projects in more than 20
countries. Through partnerships with industry leaders, we also manufacture
fabricated steel products as well as architectural curtain walling and window
systems. As part of our long-term strategy to create a sustainable flow of
construction opportunities, we also have investments in natural gas industries,
including fertilizers and in infrastructure concessions including a port
operator and an industrial park developer.
For additional information on OCI: www.orascomci.com
Orascom Construction Industries (OCI)
Nile City Towers - South Tower
2005A Corniche El Nil, Cairo, Egypt
Tel: +202 2461 1111, Fax: +202 2461 9400,
OCI stock symbols: OCIC.CA / ORCI EY / OCICqL / ORSD LI
This information is provided by RNS
The company news service from the London Stock Exchange