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

January 17, 2011 02:01 ET

OCI and Arab Contractors Form Nuclear Power JV

CAIRO, EGYPT--(Marketwire - January 17, 2011) -

OCI Construction Group     Cairo, Egypt / 16 January, 2011 10:15 AM

OCI and Arab Contractors Form Joint Venture to Bid on Nuclear Power
Projects in Egypt and the Middle East

Orascom Construction Industries (OCI) announced today that it has
formed a joint venture with Arab Contractors to bid on nuclear power
projects in Egypt and the Middle East. Several countries in the region
have announced their intentions to initiate nuclear power programs to
meet surging demand for electricity. This strategic joint venture,
which is comprised of the two largest contractors in Egypt, aims to
benefit from these recently announced regional investment programs in
the nuclear power sector.

The joint venture will bid on Egypt's first nuclear power plant in
early February which will be located near the north coast in Al Dabaa.
Both companies have already initiated discussions with international
nuclear technology providers to form a bidding consortium for this

OCI Construction Group Managing Director, Osama Bishai commented, "our
strategic joint venture with Arab Contractors has created a leading
regional consortium qualified to bid on the large flow of nuclear power
plant projects expected in the near future. The joint venture has
enlarged the geographical footprint for both companies and will
capitalize on combined core competencies and technical capabilities."

Arab Contractors CEO, Ibrahim Mahlab commented, "we are pleased to join
forces with OCI, a leading regional infrastructure contractor, and look
forward to submitting our bid for the first nuclear power plant in
Egypt. The joint venture will pool both companies' resources, expertise
and know-how to create a strong bidding consortium and capitalize on
the region's desire for nuclear power."

About Arab Contractors

Arab Contractors is one of the largest Engineering Procurement and
Construction (EPC) contractors in the Middle East and Africa. It is
focused on infrastructure work, particularly bridges, roads, airports,
tunnels, power and waste-water treatment. The Company also executes
select commercial work and other projects including monument
restoration, ship building and electromechanical work. Since its
inception over 50 years ago, Arab Contractors has grown into a
high-quality brand in the region, led by its 45,000 workers who operate
in over 29 countries.

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

                             For additional information on OCI:
OCI Investor Relations

Omar Darwazah
Email:                       OCI stock symbols: OCIC.CA / OCIC EY /  OCICqL / ORSD

Erika Wakid                  Orascom Construction Industries (OCI)
Email:                       Nile City Towers - South Tower    2005A Corniche El Nil
                             Cairo, Egypt
Hassan Badrawi

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

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


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