OCI Construction Group Cairo, Egypt/September 8, 2010, 10:30 AM
Six Construct Qatar Awarded US$ 675 million Contract in Joint Venture
with Midmac Contracting Co. to Build Phase IIB of the Doha Convention
Center & Tower Project in Qatar
Orascom Construction Industries (OCI) confirmed today that Six
Construct Qatar (a fully owned subsidiary of the
BESIX Group which is 50%-owned by OCI) has been awarded a US$ 675
million contract to build phase IIB of the Doha Convention Center &
Tower in Qatar in joint venture with Midmac Contracting Co.
Six Construct Qatar's share of the contract is approximately US$ 338
million or 50% of the total contract value.
The client is the Qatari Diar Real Estate Investment Company and the
project is due for completion by the end of October 2012. The scope of
work entails construction of the concrete and structural steel
superstructure, electromechanical works, roof works and both internal
and external finishing related to the project.
A Six Construct/Midmac joint venture is currently executing work on
phase IIA of the project awarded in early 2009 valued at US$ 210
million. In addition, an OCI/BESIX joint venture is currently executing
the substructure work on the Qatari Diar Nile Corniche Project in
Cairo.
Orascom Construction Industries CEO, Nassef Sawiris commented "we are
pleased to participate in Qatar's steadfast world-class infrastructure
program. Qatar is a core regional market for the OCI Construction Group
and we are proud of our track record in building milestone projects in
the country. We will continue to pursue key infrastructure projects
going forward."
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.
For additional information contact:
OCI Investor Relations For additional information on OCI:
Department:
www.orascomci.com
Omar Darwazah
Email: OCI stock symbols: OCIC.CA / ORCI EY /
omar.darwazah@orascomci.com OCICqL / ORSD
Erika Wakid Orascom Construction Industries (OCI)
Email: Nile City Towers - South Tower
erika.wakid@orascomci.com
2005A Corniche El Nil
Cairo, Egypt
Hassan Badrawi
Director
Tel: +202 2461 1036/0727/ 0914
Fax: +202 2461 9409
This information is provided by RNS
The company news service from the London Stock Exchange
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