Egypt - Orascom Construction PLC announces that it has added $1.1 billion ( EGP 17.25 billion) of new awards to its backlog in quarter two (Q2) 2021, according to a statement released on July 6th.
These new awards mark an increase of 52% y-o-y over the level in Q2 2020 and bring total new awards in half one (H1) of 2021 to $1.8 billion.
Projects in Egypt comprised 32% of new awards during Q2 2021 as the group added contracts across the water and industrial sectors, while new awards in the U.S. accounted for 68% of total during the quarter due to sizable projects in the data center sector.
The estimated consolidated backlog stood at $5.8 billion (EGP 90.94 billion) as of June 30th.
In late June, Orascom Construction signed a contract to build two textile manufacturing complexes in Damietta and El-Mahalla, Egypt.
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 United States.
*At press time, the conversion rate is $1 = EGP 15.68
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