Orascom Construction PLC (NASDAQ Dubai: OC; EGX: ORAS) announces that its 50:50 joint venture with Arab Contractors has signed an Engineering, Procurement and Construction (EPC) contract to build a water treatment plant in Egypt for USD 739 million.
The treatment plant, which will be the largest in Egypt, will have a capacity of 5 million m3/day and will treat water for irrigation purposes. In addition to the EPC scope, the joint venture will operate and maintain the facility for five years.
This award is a continuation of Orascom Construction’s expansion in the water sector, which spans all types of projects across the full spectrum including desalination, wastewater treatment, irrigation and water infrastructure. Furthermore, the Group has secured operation and maintenance (O&M) contracts on most of its water projects for a period of 1-5 years in addition to the EPC role.
Osama Bishai, CEO of Orascom Construction, commented, “We are proud of our involvement in the largest water treatment plant in Egypt. This project not only reflects our leading position in the water and O&M fields, but also in the infrastructure sector as a whole.”