OCI Construction Group Cairo, Egypt / 4 February, 2010 5:00 PM
OCI-Aqualia Joint Venture Achieves Financial Close of the New Cairo
Waste Water Treatment Plant and Signs the Direct Agreement with the
Egyptian Ministry of Finance and the Project Lenders
Orascom Construction Industries (OCI) confirmed today that its 50/50
joint venture with Spanish group Aqualia (Orasqualia) has signed both
the facility and direct agreements for the New Cairo Waste Water
Treatment Plant with the project lenders, the New Urban Communities
Authority and the Public Private Partnership (PPP) Central Unit at the
Egyptian Ministry of Finance.
On 28 June 2009, Orasqualia was awarded Egypt's first PPP concession
for the construction and operation of the New Cairo Waste Water
Treatment Plant. The 20-year concession was tendered by the Egyptian
Ministry of Housing, Utilities & Urban Development in coordination with
the Ministry of Finance. The wastewater treatment plant will have a
capacity of 250,000 m3 per day and will serve over one million people.
The overall contract value during the concession period is EGP 2.646
billion and includes the Engineering, Procurement and Construction
(EPC) of the plant and the Operations and Maintenance (O&M).
Participant banks in the loan facility include National Societe
Generale Bank (NSGB) SAE, Commercial International Bank (CIB) Egypt
SAE, Arab African International Bank SAE and Ahli United Bank Egypt
SAE. NSGB is acting as the facility agent and CIB is the security agent
and technical bank.
Baker and McKenzie is acting legal counsel for Orasqualia on this loan
facility and Zulficar & Partners for the project lenders.
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 Aqualia
Aqualia, the Grupo FCC company specialized in water, serves more than
26 million people in over 1,100 municipalities worldwide. The company
had a turnover of EUR 845 million in 2008 and has a current business
portfolio of over EUR 12 billion. The company operates in countries
such as Spain, Italy, Portugal, Algeria, Czech Republic, Mexico, China
and has recently opened a new office in the United Arab Emirates for
MENA Region development. During 2007 the company was named Water
Company of the Year by Global Water Intelligence in recognition of its
recent international expansion. Aqualia has also received previous
awards such as Customer Service Leadership of the Year from Frost &
Sullivan and Best of European Business from Roland Berger.
For additional information contact:
OCI Investor Relations For additional information
Department: on OCI:
www.orascomci.com
Omar Darwazah
Email: omar.darwazah@orascomci.com OCI stock symbols: OCIC.CA /
ORCI EY /OCICqL / ORSD
Erika Wakid Orascom Construction
Email: erika.wakid@orascomci.com Industries (OCI)
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
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