Cairo, Egypt / 28 March, 2011 10:15 AM
OCI Forms Partnership with Maire Tecnimont to Explore Fertilizer
Opportunities in Sub-Saharan Africa
Orascom Construction Industries (OCI) announced today that it has
signed a Memorandum of Understanding (MOU) with Maire Tecnimont to
explore potential fertilizer opportunities in sub-Saharan Africa. The
50/50 partnership will take charge of all aspects of proposed projects
including engineering, procurement and construction, licensing, plant
operation, equity participation, partnership and debt financing
arrangements.
OCI and Maire Tecnimont are currently collaborating on the Borouge 3
Polyolefin Units and Utilities & off-site facilities in Ruwais, Abu
Dhabi. OCI signed USD 146 million worth of construction contracts with
the Tecnimont SpA/Samsung Engineering Company Ltd. joint venture to
execute piling, civil works and buildings for the project.
About Maire Tecnimont SpA
Maire Tecnimont S.p.A. is the parent company of an Engineering, Main
Contracting and Licensing International industrial group which operates
in three sectors: Oil, Gas & Petrochemicals, Power, Civil Engineering &
Infrastructure. Today, the Group, quoted on the Milan Bourse, is
present in approximately 30 countries, currently controls over 50
operative companies and can rely on a workforce of about 5,100
employees, more than half of whom are located abroad. At 31 December
2010, the Group reported Revenues of EUR 2,536 million and Net income,
after minorities, of EUR 62 million.
About Orascom Construction Industries
OCI is one of Egypt's largest corporations with projects and
investments across Europe, the Middle East and North Africa. The
company directly employs more than 86,000 people and generated USD 4.9
billion in revenues and USD 1.1 million in EBITDA in 2010. OCI
currently has two core business activities. The OCI Fertilizer Group is
a strategic owner and operator of nitrogen fertilizer plants in Egypt,
the Netherlands and Algeria with an international distribution platform
spanning Latin America, the United States, Europe and Africa. These
operations will exceed 7.5 million metric tons of capacity in 2012,
positioning OCI as a top three nitrogen-based fertilizer producer. The
OCI Construction Group is a leading construction contractor active in
emerging markets with a backlog of USD 5.6 billion as at 31 December
2010. It primarily focuses on infrastructure projects in Europe, the
Middle East and Africa in addition to industrial and high-end
commercial projects.
For additional information contact: For additional information on OCI:
OCI Investor Relations Department: www.orascomci.com
Omar Darwazah OCI stock symbols: OCIC.CA /
Email: omar.darwazah@orascomci.com OCIC EY /OCICqL / ORSD / ORSCY
Orascom Construction Industries(OCI)
Erika Wakid Nile City Towers - South Tower
Email:erika.wakid@orascomci.com 2005A Corniche El Nil
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
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