OCI Formally Signs US$ 363 M Contract in Iraq

CAIRO, EGYPT--(Marketwire - Apr 26, 2012) -

OCI Formally Signs US$ 363 Million Contract to Build a 1,000 MW Gas Turbine Power Plant in Iraq

Orascom Construction Industries (OCI) announced today that it formally signed the US$ 363 million contract to build a 1,000 MW gas turbine power plant in Baija, Iraq. The Iraqi cabinet approved the project in January 2012.

The power plant was tendered and awarded by the Iraqi Ministry of Electricity, which was established in 2003. The project is expected to be completed in 21 months.

About Orascom Construction Industries

OCI is one of Egypt's largest corporations employing more than 72,000 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 tons 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.

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

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