Cairo, Egypt / June 24, 2008
OCI Receives New Construction Awards for the Skikda LNG Project in
Algeria
Orascom Construction Industries ("OCI") confirmed that it has been
awarded two construction contracts by Kellogg, Brown & Root
International Inc. ("KBR") for the civil works and piling installation
of the new LNG train in Skikda, Algeria being developed by Sonatrach.
These contracts represent some of the first packages of the USUSD 3
billion Skikda LNG program in Algeria.
Sonatrach is the national oil & gas company of Algeria, wholly owned by
the government. It is one of the world's largest exporters of natural
gas in its various forms and is Africa's largest oil & gas company.
The civil works construction contract for the LNG train is expected to
be complete in approximately 14 months.
The OCI/Trevi SpA joint venture is responsible for the execution of the
piling and installation works expected to be complete in approximately
10 months.
As part of the Q1 2008 results, OCI reported a record consolidated
backlog of USUSD 6.8 billion as at 31 March.
OCI Construction Group Managing Director, Osama Bishai commented "we
are pleased to participate in the LNG expansion program in Algeria for
KBR. The contracts are in continuation of the successful work performed
by OCI for KBR on the EBIC Ammonia plant and the Damietta LNG facility
in Egypt. The receipt of these contracts further
bolsters our successful repeat business with KBR and
ensures future cooperation on the projects in the region. These awards
are a result of OCI's significant presence as a construction contractor
in Algeria over the past several years and OCI shall continue to pursue
opportunities in the oil & gas sector where it has developed
significant core competencies."
For additional information
contact: For additional information on OCI:
OCI Investor Relations Department: Orascom Construction Industries
(OCI)
Investor.relations@orascomci.com Nile City Towers - South Tower
2005A Corniche El Nil
Omar Darwazah
Cairo, Egypt
Email: omar.darwazah@orascomci.com
www.orascomci.com
Ahmed Sultan
Email: ahmed.sultan@orascomci.com
OCI stock symbols: OCIC.CA / ORCI
Tel: +202 24611036/0727/0914 EY / OCICqL / ORSD
Fax: +202 2461 9409
This information is provided by RNS
The company news service from the London Stock Exchange
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