OCI Construction Group
Cairo, Egypt / 14 June, 2010 3:00 PM
BESIX Group Awarded US$ 265 million Contract in JV with the Haji Hassan
Group to Build the North Manama Causeway in the Kingdom of Bahrain
Orascom Construction Industries (OCI) confirmed today that the BESIX
Group (50%-owned by OCI) has been awarded a US$ 265 million contract to
build the North Manama causeway in the Kingdom of Bahrain in joint
venture with the Haji Hassan Group. BESIX Group's share of the contract
is approximately US$ 203 million or 78% of the total contract value.
The project entails 2.42 km of causeway road on reclaimed land and 1.6
km of existing road reconstruction and will provide road access to the
Bahrain Financial Harbor and Bahrain Business Bay. This will include
upgrades to the King Faisal highway and the al-Fateh junction.
The project is scheduled for completion during Q2 2013. The BESIX Group
also expects future upgrade plans for the East-West route of the King
Faisal highway.
About BESIX Group
Founded in 1909, the BESIX Group, Belgium's largest company, is a
multi-services group operating in construction, roads, infrastructure,
environmental, concessions and property development sectors. BESIX
employs over 20,000 people and is active in 14 countries, including
Eastern Europe, North and Central Africa, the Middle East, Central Asia
and the Caribbean.
About OCI Construction Group
The Construction Group ranks among the top global contractors and
operates under three distinct brands. The three groups provide a range
of construction services in key regional markets in the Middle East and
North Africa in addition to Europe, Africa and Central Asia. The Group
primarily focuses on infrastructure (energy and related infrastructure
including oil & gas, power and petrochemicals / social infrastructure
including large-scale educational campuses and healthcare facilities /
water including wastewater and desalination), transportation (including
roads, airports, ports and railway), industrial and high-end commercial
projects. To complement the construction business, OCI also owns and
operates National Steel Fabrication, the largest manufacturer of
fabricated steel products in the Middle East, and has investments in
manufacturers of glass curtain walling, paints and concrete pipes.
OCI recently announced a joint venture with Morgan Stanley to invest in
infrastructure assets in the Middle East and Africa. The proposed joint
venture is positioned to capitalize on Morgan Stanley Infrastructure's
investing expertise and its global reach as well OCI's local and
regional awareness of infrastructure needs.
For additional information
contact: For additional information on OCI:
OCI Investor Relations
Department: www.orascomci.com
Omar Darwazah
Email: OCI stock symbols: OCIC.CA / OCIC EY /
omar.darwazah@orascomci.com OCICqL / ORSD
Erika Wakid Orascom Construction Industries (OCI)
Email: Nile City Towers - South Tower
erika.wakid@orascomci.com 2005A Corniche El Nil
Cairo, Egypt
Hassan Badrawi
Director
Tel: +202 2461 1036/0727/
0917
Fax: +202 2461 9409
This information is provided by RNS
The company news service from the London Stock Exchange
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