Egypt - Orascom Construction PLC (ORAS) announced its backlog has witnessed the addition of $785 million new awards in the fourth quarter (Q4) of 2021, according to an emailed press release on January 17th.
This brings total new awards in 2021 to $3.5 billion, marking a 22% year-on-year (YoY) growth.
Projects in the Middle East accounted for 55% of new awards in Q4 2021, including transportation and power projects in Egypt as well as water projects in Egypt and Tunisia.
Meanwhile, projects in the US made up 45% of new awards in Q4 2021, mainly driven by the commercial sector.
Consolidated backlog has been estimated at $6.1 billion at the end of December 2021, marking a marginal increase over the record backlog achieved as of September 2021.
Orascom Construction PLC is a UAE-based engineering and construction contractor. It is a global engineering and construction contractor primarily focused on infrastructure, industrial, and high-end commercial projects in the Middle East, Africa, and the US.
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