Cairo -- (MARKET WIRE) -- April 16, 2007 --
NEWS RELEASE
OCI Signs EGP 760 million Power Plant Contract in Egypt
OCI Construction Group signs new construction order valued at EGP 760 million
for the civil works package on the El Tebbin 2 x 350 MW Thermal Power Plant in
Egypt
Cairo, Egypt - 15 April 2007: Orascom Construction Industries (OCI) announced
that it has signed an EGP 760 million contract with the Cairo Electricity
Production Company (CEPC), an affiliate of the Egyptian Ministry of Electricity.
The award is for the construction work on a new 2 x 350 MW Thermal Power Plant
located in El Tebbin, 25km south of Cairo. The plant is also located near the
industrial areas of Helwan and Maadi in greater Cairo.
The scope of work under the contract includes all civil works including the
plant's intake pump house and discharge structures, reinforced concrete cylinder
pipes which are 2.5 meters in diameter, a 150 meter high chimney, steam turbine
buildings, all auxiliary and ancillary facilities, all underground facilities,
piping and duct banks as well as all associated piling, foundation, mechanical
and electrical works.
The Egyptian Minister of Electricity & Energy, Hassan Younis commented "the El
Tebbin contract is the second power project to be executed by OCI, having
successfully completed the milestones for the 750 MW combined cycle plant in
Talkha."
OCI Construction Group Managing Director, Osama Bishai commented: "The El Tebbin
contract further consolidates OCI's leadership in the construction of industrial
energy facilities. OCI is also pursuing similar projects in Algeria and
continues to monitor infrastructure expansion programs across the region.
Moreover, the El Tebbin contract also provides new business opportunities for
OCI's subsidiaries which include production of steel structures, production and
supply of ready-mix concrete, asphalt and foundation works."
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For additional information CONTACT:
Investor Relations Department:
Hassan H. Badrawi - Director
Sarah Makiya
Omar Darwazah
Tel: +202 2461 1039/1036
Fax: +202 2461 9409
Email: hassan.badrawi@orascomci.com
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 tons. Our new investments in
northern Iraq, Turkey, Nigeria, Algeria, the United Arab Emirates and Saudi
Arabia will increase our annual production capacity to 36 million tons. Our
Cement Group exports primarily from Egypt 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