CAIRO, EGYPT--(Marketwire - Aug 17, 2011) -
Cairo, Egypt / 17 August, 2011 10:15 AM OCI Awarded US$ 181 Million Civil Works Package for the 1,500 MW Giza North Combined Cycle Power Plant in Egypt Orascom Construction Industries (OCI) announced today that it has been awarded the civil works package worth US$ 181 million for the 1,500 MW combined cycle power plant in Giza, Egypt. The project was awarded by the Cairo Electricity Production Company and is expected to be complete in approximately 32 months. OCI is currently constructing several power plants in Egypt and Algeria with a total power generation capacity of 5,250 MW. OCI Construction Group Chief Operating Officer, Osama Bishai, commented, "the Construction Group continues to target key power projects in its Middle East and North Africa markets as these markets continue to face severe power supply deficits. The Group has been able to secure sizeable contracts and we believe the power sector in the region will continue to provide great opportunities for OCI." About Orascom Construction Industries OCI is one of Egypt's largest corporations with projects and investments across Europe, the Middle East and North Africa. The company directly employs more than 84,000 people and generated US$ 4.9 billion in revenues and US$ 1.1 billion in EBITDA in 2010. OCI currently has two core business activities. The OCI Fertilizer Group is a strategic owner and operator of nitrogen fertilizer plants in Egypt, the Netherlands and Algeria with an international distribution platform spanning Latin America, the United States, Europe and Africa. These operations will exceed 7.0 million metric tons of capacity in 2012, positioning OCI as a top three nitrogen-based fertilizer producer. The OCI Construction Group is a leading construction contractor active in emerging markets with a backlog of US$ 5.6 billion as at 31 December 2010. It primarily focuses on infrastructure projects in Europe, the Middle East and Africa in addition to industrial and high-end commercial projects. For additional information contact: For additional information on OCI: OCI Investor Relations Department: www.orascomci.com Omar Darwazah OCI stock symbols: OCIC.CA / Email: omar.darwazah@orascomci.com OCIC EY / OCICqL / ORSD / ORSCY Erika Wakid Email: erika.wakid@orascomci.com Orascom Construction Industries(OCI) Nile City Towers - South Tower Hassan Badrawi 2005A Corniche El Nil Director Cairo, Egypt 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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