Cairo – Mubasher: Orascom Construction Ltd, listed on the Egyptian Exchange (EGX) and Nasdaq Dubai, on Monday announced that it has added $520 million contracts to its ongoing projects in the third quarter of 2018.
Egypt has acquired nearly 60% of these contracts, while the US has the remaining share, the construction firm said in a statement to the EGX.
The total value of the under-construction projects amounted to $4.1 billion at the end of September, the Egyptian firm indicated.
The new contracts will be implemented mainly in Egypt’s infrastructure and wastewater treatment sector, according to the statement.
As for the US, the company noted that it has improved the quality of its contracts signed in Q2-18 and has signed new projects in the trade and industry sectors.
Moreover, the Belgian BESIX group has pumped around EUR 380 million into new projects during Q3-18 out of total newly signed contracts worth EUR 1.9 billion and ongoing projects valued at EUR 3.2 billion, Orascom said.
In July, Orascom Construction revealed it added $650 million contracts to its under-construction businesses in the two countries during Q2-18.
The international engineering and construction contractor sealed new contracts worth $415 million in Egypt and signed new business contracts in the US valued at around $235 million during Q2-18.
