Cairo, Egypt / September 17, 2008, 9:30 AM Arabian Sea Foundation Lands First Contract for USD 150 million Orascom Construction Industries (OCI) announced today that its new construction joint venture, "Arabian Sea Foundation" (1) based in Abu Dhabi, UAE, in partnership with Hydra Commercial Investments, Sorouh Real Estate PJSC (SOROUH.ADSM) and Capital Investment, landed its first construction contract worth USD 150 million. The construction contract is for the enabling works of the Shams Abu Dhabi, Gate District towers project which is part of the Al Reem Island development. The contract was awarded by a Sorouh and Tameer Holdings Investments joint venture. The Al Reem Island project is located in Abu Dhabi, UAE and is being developed by Sorouh. The USUSD 150 million scope of work includes the piling and foundation works as well as the dewatering and excavation works for the real estate development. The project was awarded through a bidding process and is expected for completion within 14 months. OCI Chief Executive Officer Nassef Sawiris commented, "only a few weeks after its establishment, the Arabian Sea Foundation has landed a milestone contract. The size and significance of the contract signifies the importance of the company's establishment. Arabian Sea Foundation will continue to capitalize on the opportunities and growth potential in this specific construction space in light of the significant infrastructure and construction boom occurring in Abu Dhabi, the UAE and in the region." (1) Previously announced as "Emirates Foundation" For additional information contact: OCI Investor Relations Department: For additional information on OCI: Orascom Construction Industries (OCI) Omar Darwazah Nile City Towers - South Tower Email: omar.darwazah@orascomci.com 2005A Corniche El Nil Cairo, Egypt Ahmed Sultan Email: ahmed.sultan@orascomci.com www.orascomci.com Tel: +202 2461 1039/1036/0727/0914 Fax: +202 2461 9409 0CI stock symbols: OCIC.CA/ORCIEY/OCICqL/ORSD This information is provided by RNS The company news service from the London Stock Exchange END
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