Orascom Construction adds $ 1.1bln to its backlog in Q2 2021

These new awards mark an increase of 52% y-o-y over the level in Q2 2020

  
Construction workers are seen at new houses on the outskirts of Cairo, Egypt, October 21, 2019.

Construction workers are seen at new houses on the outskirts of Cairo, Egypt, October 21, 2019.

REUTERS/Shokry Hussien
 

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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