Cairo, EGYPT--(Marketwire - Dec 20, 2011) -
Cairo, Egypt / 20 December, 2011 1:30 PM OCI/BESIX Group Joint Venture Selected for the Award of the Third Phase of the Egyptian Grand Museum Valued at US$ 810 Million Orascom Construction Industries (OCI) announced today that a 50/50 joint venture with the BESIX Group has been selected for the award of the third phase of the Egyptian Grand Museum valued at approximately US$ 810 million. The museum will be located on the Cairo-Alexandria highway overlooking the Grand Pyramids. The project is 65% funded by the Japan International Cooperation Agency (JICA). The joint venture has been awarded the project on a turnkey basis and the final contract signature is expected to be within the coming days. The client is the Supreme Council of Antiquities (SCA) which is responsible for the conservation, protection and regulation of all antiquities and archaeological excavations in Egypt. A joint venture between Hill International and EHAF Consulting Engineers will provide project management services during the design and construction of the project. The state-of-the-art Grand Museum will showcase approximately 100,000 ancient Egyptian artifacts in the main exhibition hall and will also include a conference and learning center to educate visitors on Ancient Egyptian history. The museum will house an advanced security and communication system to ensure the safety of the artifacts and will be host to a sophisticated technological system to maximize viewing pleasure for visitors. The project is expected to be complete by July 2015 or in approximately 40 months. OCI Construction Group Managing Director, Osama Bishai commented "the Construction Group is proud to be part of one of Egypt's future landmark projects. The Egyptian Grand Museum will be the first iconic building in Egypt's modern history and will create approximately 5,000 jobs during the course of its construction. It will also be a great addition to Egypt's tourism industry." About Orascom Construction Industries OCI is one of Egypt's largest corporations employing more than 84,000 people in 35 countries around the globe. The OCI Fertilizer Group owns and operates nitrogen fertilizer plants in Egypt, the Netherlands, the United States, and Algeria and has an international distribution platform spanning from the Americas to Asia. The OCI Fertilizer Group ranks among the world's top fertilizer producers with a production capacity which will exceed 7.0 million metric tonnes in 2012. The OCI Construction Group provides international engineering and construction services primarily on infrastructure, industrial and high-end commercial projects in Europe, the Middle East and North Africa for public and private clients. The OCI Construction Group ranks among the world's top global contractors. For additional information contact: For additional information on OCI: OCI Investor Relations Department: www.orascomci.com Omar Darwazah OCI stock symbols: OCIC.CA / OCIC EY / Email: OCICqL / ORSD / ORSCY omar.darwazah@orascomci.com Orascom Construction Industries (OCI) Erika Wakid Nile City Towers - South Tower Email: 2005A Corniche El Nil erika.wakid@orascomci.com 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 END
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