Mubasher: Orascom Construction Plc, listed on the Egyptian Exchange (EGX) and Nasdaq Dubai, has added new contracts worth $785 million to its backlog in the fourth quarter (Q4) of 2021.

This step has raised the total number of new awards by 22% year-on-year (YoY) to $3.5 billion in 2021, according to a press release on Monday.

The projects in the Middle East represented 55% of new awards during Q4-21, including transportation and power projects in Egypt as well as water projects in Egypt and Tunisia.

Meanwhile, new awards in the US accounted for 45% of the total in the quarter, mainly led by projects in the commercial sector.

As of 31 December 2021, the estimated consolidated backlog recorded $6.1 billion, witnessing a slight increase over the backlog level as of 30 September 2021.

Source: Mubasher

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