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

March 15, 2010 03:00 ET

BESIX & Samsung Awarded DHS 4.7bn Cleveland Clinic

CAIRO, EGYPT--(Marketwire - March 15, 2010) -




OCI Construction Group

 Cairo, Egypt / 14 March, 2010 2:30 PM



BESIX Group Awarded DHS 4.7 billion Contract in JV with Samsung to
Build the Cleveland Clinic in Abu Dhabi



Orascom Construction Industries (OCI) confirmed today that the BESIX
Group (50%-owned by OCI) has been awarded a DHS 4.7 billion (US$ 1.3
billion) contract to build the Cleveland Clinic in Abu Dhabi in joint
venture with Samsung. BESIX Group's share in the contract is DHS 2.8
billion (US$ 780 million) or 60% of the total contract value.



The client, Mubadala Healthcare, is an investment company owned by the
Abu Dhabi government. The client is part of the Mubadala Development
Company Division. The project is planned to be completed by Q1 2013.
BESIX Group's scope of work is a on turnkey basis and covers an area of
400,000 m3 which includes 200,000 m3 of parking area and 375
state-of-the-art medical rooms including exclusive royal suites and
associated administrative areas. The Cleveland Clinic will be located
on Sowwah Island.



The BESIX Group and Samsung have executed flagship projects in the UAE
in the past including the Ferrari Park Experience on Yas Island and
ADIA's headquarters in Abu Dhabi as well as the Burj Khalifa in Dubai.



Currently Contrack International, a wholly-owned subsidiary of OCI, is
executing the first academic medical center in the region - the SIDRA
Medical and Research Center for the Qatari Foundation in Doha.



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.



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.



For additional information
contact:
OCI Investor Relations Department:

Omar Darwazah
Email: omar.darwazah@orascomci.com

Erika Wakid
Email: erika.wakid@orascomci.com

Hassan Badrawi
Director

Tel: +202 2461 1036/0727/0917
Fax: +202 2461 9409


For additional information on OCI:

www.orascomci.com

OCI stock symbols: OCIC.CA / ORCI EY / OCICqL / ORSD

Orascom Construction Industries (OCI)
Nile City Towers - South Tower
2005A Corniche El Nil
Cairo, Egypt

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

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