SOURCE: Orascom Construction Inds, S.A.E.

August 04, 2008 03:13 ET

BESIX Signs EUR 525 million JV BOOT in Abu Dhabi

CAIRO, EGYPT--(Marketwire - August 4, 2008) -


Cairo, Egypt / August 4, 2008, 10:00 AM





BESIX Signs EUR 525 million Joint Venture BOOT Contract for a
Wastewater Plant in Abu Dhabi


Orascom Construction Industries (OCI) confirmed today that BESIX (50%
owned by OCI) has been awarded in joint venture with VEOLIA Water, a
BOOT contract (Build, Own, Operate, and Transfer) to finance, construct
and operate two new wastewater treatment plants for the city of Abu
Dhabi and Al Ain in the UAE.


The contract has been signed with the Abu Dhabi Water and Electricity
Authority (ADWEA) for a period of 25 years of which 2.5 years will
be required for the construction of the Abu Dhabi and the Al Ain
plants. BESIX will participate (33%) in the operation and maintenance
of the plants, for a period of 22.5 years. The consolidated contract
value is EUR 525 million of which BESIX has a 50% share.


The wastewater plants have a capacity of
300,000 m3 and 130,000 m3 for Abu Dhabi and Al Ain respectively. The
plants will provide complete treatment of the water, in conformity
with the requirements of ADWEA, thus making it possible to use the
water for irrigation and for the green zones in both cities.


This project is the second BOOT contract for BESIX succeeding the
concession signed with the Emirate of Ajman in February 2006 valued at
EUR 429 million.


About BESIX Group

The BESIX Group is a multi-service group operating in the construction
and real estate sectors. In construction, the Group specializes in
buildings, infrastructure and environmental projects, industrial civil
engineering, maritime and port works and real estate development.


BESIX is the largest construction company in Belgium and is active on
projects throughout Europe, northern and central Afrcia and the Middle
East. The BESIX Group is based in Brussels and was founded in 1909.

About OCI Construction Group

The OCI Construction Group ranks among the top global contractors and
operates under three distinct and separate brands. Orascom Construction
targets large industrial and infrastructure projects principally
in Egypt, North Africa and select markets in the Arab Gulf markets. The
BESIX Group undertakes major commercial, Industrial and infrastructure
projects throughout Europe and the Middle East. Contrack International
pursues institutional projects in the Middle East and Central Asia.


To complement the construction business, OCI also owns and operates
National Steel Fabrication Company, the Middle East's largest
manufacturer of fabricated steel products. OCI also has investments in
manufacturers of glass curtain walling, paints and concrete pipes, and
two facility management companies.




For additional information contact:

OCI Investor Relations Department:  For additional information on OCI:
Omar Darwazah                       Orascom Construction Industries
                                    (OCI)
Email: omar.darwazah@orascomci.com  Nile City Towers - South Tower
                                    2005A Corniche El Nil
                                    Cairo, Egypt
Ahmed Sultan
Email: ahmed.sultan@orascomci.com
Tel: +202 2461 1039/1036/0727/0914  www.orascomci.com
Fax: +202 2461 9409
                                    OCI stock symbols: OCIC.CA / ORCI
                                    EY / OCICqL / ORSD




                    This information is provided by RNS
          The company news service from the London Stock Exchange

END

Contact Information