Our aims to expand our market presence as an EPC contractor in our core markets in MENA and the US through several avenues, namely strengthening activities in our key infrastructure and industrial sectors, selective pursuit of well-funded projects where we hold a competitive edge and capitalizing on our proven financing track record across various sectors.
The Group has maintained an active strategy of working in partnership with industry leaders to complement and expand its capabilities. Historically, these relationships have enabled us to participate in some of MENA’s largest construction projects and maintain a strong market position. Orascom Construction PLC’s 50% investment in the BESIX Group is a clear example of this strategy being put to action, where both companies have pursued opportunities and participated in projects beyond each other’s core competencies. The Group will further deploy this strategy and leverage its MENA relationships in its effort to expand its US foothold. Additionally, we always consider strategic tuck-in acquisitions that enhance our core competencies and add valuable human resources to our construction team as was the case with our acquisition of The Weitz Company in 2012.
A key pillar of our strategy is leveraging our investment track record in cement, ports, fertilizer and wastewater treatment to identify and pursue new investment opportunities that provide stable cash flows and further scope for growth. By directly investing in infrastructure opportunities using a Build-Own-Operate (BOO) model, Orascom Construction PLC is able to generate construction revenue and cash flow during the contracting phase followed by recurring cash flow once the project is operational. This strategy is already being implemented where Orascom Construction is a co-owner and co-developer of the New Cairo Wastewater Treatment Plant, Egypt’s first PPP, and the company is currently pursuing other power and water opportunities. We also aim to replicate this model in the US to support expansion and complement our MENA business.
It is our firm belief that behind every successful company is a continued commitment to quality, safety, the environment and ethical business practices. At Orascom Construction PLC, maintaining a safe and healthy workplace for all our employees and putting our expertise to work for the benefit of our clients, our partners and the communities in which we operate is at the heart of how we do business. That is why at Orascom Construction PLC we choose to implement global best practice when it comes to safety standards, training and development.
Since its establishment in the 1950s, the Group has remained committed to creating shareholder value at every stage of its ambitious journey of becoming a leading private sector contractor and an incubator of high-value industrial businesses. This unwavering commitment is at the core of our strategy and is instilled in our management and founding shareholders who continue to propel the Group into the next phase of its sustainable growth trajectory.