OCI Construction Group Cairo, Egypt / 27 January, 2011 10:15 AM
Orasqualia Awarded African PPP Water Deal 2010 by Euromoney's Project
Finance Magazine
Orascom Construction Industries (OCI) announced today that its 50/50
joint venture with Spanish group Aqualia (Orasqualia) has been awarded
"African PPP Water Deal of the Year 2010" by Euromoney's Project
Finance Magazine. The award recognizes innovation, best practice,
problem solving, risk minimization and the economic value of
infrastructure financings all over the world. Orasqualia was also
awarded the "Water Deal of the Year" by Global Water Intelligence in
May 2010.
The waste water plant is Egypt's first PPP concession 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 acted as 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 specializes in water and serves more
than 27 million people in over 1,100 municipalities worldwide. The
Company, with a turnover of EUR872 million in 2009 and a business
portfolio of almost 13,000, is currently working in several countries
such as Spain, Italy, Portugal, Algeria, Czech Republic, Mexico and
China. During 2007, Aqualia was named Water Company of the Year by
Global Water Intelligence, an award that recognizes its international
expansion over the last few years. In addition, the Company has
received others awards such as Customer Service Leadership of the Year,
from Frost & Sullivan, and Best of European Business, from Roland
Berger.
FCC is the parent company of one of Europe's leading citizen services
groups in terms of both revenues and profitability. It has
traditionally focused on growth through diversification: originally
founded as a construction company, in 1911 it branched into municipal
services with a contract to clean and maintain Barcelona's sewer
network. Its business portfolio is now highly diversified. FCC's core
businesses are environmental services and water management,
construction of large infrastructure, cement production, and renewable
energy production. It has a footprint in 54 countries worldwide and
over 44% of its revenues come from outside Spain (mainly Europe and the
US). Revenues in 2009 amounted to EUR12.7 billion and the group had
92,324 employees.
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 / ORSCY
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
Contact Information: Contacts: RNS Customer Services 0044-207797-4400 http://www.rns.com