SOURCE: Orascom Construction Industries

January 15, 2008 11:02 ET

Orascom Construction Industries announces OCI Signs EGP 560 million Power Plant Contract in Egypt

Cairo--(Marketwire - January 15, 2008) -


                                                          NEWS RELEASE


OCI Signs EGP 560 million Power Plant Contract in Egypt
OCI signs a new construction order valued at EGP 560 million for the civil works package on the Sidi Krir 750 MW Combined Cycle Power Station in Egypt

Cairo, Egypt - 15 January 2008: Orascom Construction Industries (OCI) announced today that it has signed an EGP 560 million contract with the West Delta Electricity Production Company ("WDEPC"). The award is for the construction work on new 2 x 250 MW Combustion Turbine Generators and 1 x 250 MW Steam Turbine Generator located in Sidi Krir, Alexandria, Egypt.

The scope of work under the contract includes the plant's on-shore, out-fall and inlet cooling system. The contract also includes the construction of the non-process building, the steel structures and all civil works related to the power block.

The project was awarded as a joint venture to both OCI and Besix S.A. (an OCI subsidiary). The total value of the contract is approximately EGP 560 million (EUR 27.6 million plus EGP 398 million) and is scheduled for completion within 32 months from the contract signature date.

The Sidi Krir Power Station contract is the fourth power sector award for OCI during the last 12 months. OCI has received contract awards for the 2x350 MW Thermal Power Plant located in El Tebbin, Egypt as well as the first 62 MW Solar Combined Cycle Power Plant located in Kuraymat, Egypt, with a combined value of US$ 230 million. More recently, OCI received a contract to build the first 1,200 MW Combined Cycle Power Plant in Algeria in consortium with Alstom; a contract worth EUR 560 million.

OCI Construction Group Managing Director, Osama Bishai commented "the Sidi Krir contract further reinforces OCI's leadership in the power sector. Over the past 12 months, OCI has been awarded four power plant contracts in both Egypt and Algeria. The Group has developed specialized expertise in the construction of large, industrial power plants and continues to play a primary role in developing the infrastructure for the growing economies in North Africa and the Middle East. OCI will continue to pursue similar projects in the future, leveraging its know-how, technical capabilities and core competence in the sector."

About Orascom Construction Industries

OCI is a leading construction contractor active in emerging markets. Based in Cairo, we employ more than 40,000 people in over 20 countries. Working together with our employees, business partners and customers, we are helping to build the future in developing countries around the world.

As a contractor, we provide engineering procurement and construction services on large, complex and demanding industrial, commercial, water/sewage, transportation, telecommunications, maritime, tourism and railway projects for private and public customers principally in the Middle East, Africa and Central Asia. Our Construction Group is active in over 100 projects in more than 20 countries. Through partnerships with industry leaders, we also manufacture fabricated steel products as well as architectural curtain walling and window systems. We also have investments in natural gas industries, such as fertilizer producers, and in infrastructure concessions.

For additional information CONTACT:

OCI Investor Relations Department:



Hassan H. Badrawi
Email: hassan.badrawi@orascomci.com


Omar Darwazah
Email: omar.darwazah@orascomci.com


Ahmed Sultan
Email: ahmed.sultan@orascomci.com


Tel:  +202 2461 1039/1036/0727/0914
Fax: +202 2461 9409


For additional information on OCI: www.orascomci.com


Orascom Construction Industries (OCI)
Nile City Towers - South Tower
2005A Corniche El Nil, Cairo, Egypt
OCI stock symbols: OCIC.CA / ORCI EY / OCICqL / ORSD




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