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

December 20, 2011 07:29 ET

OCI/BESIX JV Selected for Egyptian Grand Museum

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

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

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

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

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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