Orascom Construction and Aqualia (a leading wastewater management company based in Spain) established Orasqualia, Egypt's first public-private partnership, in 2009.
Orasqualia was awarded the concession for the construction and operation of a wastewater treatment plant in New Cairo known as the New Cairo Wastewater Treatment Plant, with a capacity to pump 250,000 cubic metres a day and serve 1 million people.
The project was initiated by the New Urban Communities Authority (NUCA) and was tendered by the Egyptian Ministry of Housing, Utilities and Urban Development in coordination with the Ministry of Finance as a 20 year public-private partnership.
The success of this award established a blueprint for Egypt's PPP legislation and was awarded in 2010 both "Water Deal of the Year" by Global Water Intelligence and "PPP African Deal of the Year" by Euromoney/Project Finance Magazine.
Construction was completed in 2013 and began operating in the fourth quarter of that year.
In November 2014, we signed a memorandum of understanding with the International Petroleum Investment Company (IPIC) and the Egyptian government formalizing cooperation idevelop, construct and operate a 2,000 to 3,000 Megawatt (MW) coal-fired power plant in Egypt.
Orascom Construction and IPIC aim to develop this project on a fast-track basis to help meet Egypt's rising demand for electricity. This is a strategic step in further developing Orascom Construction's infrastructure focus in Egypt and other key regional markets, and we believe our track record and positioning would allow us to develop new and further infrastructure investments opportunities.