Cairo--(Marketwire - Jul 4, 2011) -
Cairo, Egypt / 4 July, 2011 10:15 AM OCI Welcomes Potential US$ 350 Million Debt and Equity Investment by IFC Orascom Construction Industries (OCI) announced today that the IFC, a member of the World Bank Group, is considering a debt and equity investment package of US$ 350 million with the group consisting of a US$ 200 million loan to its Fertilizer Group, a US$ 100 million loan to its Construction Group, and a US$ 50 million equity investment by acquiring shares in the company. The investment is subject to IFC board approval, which could come later in July. 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 84,000 people and generated US$ 4.9 billion in revenues and US$ 1.1 billion 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 7.0 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 US$ 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: mar.darwazah@orascomci.com OCIC EY /OCICqL / ORSD / ORSCY Erika Wakid Email: erika.wakid@orascomci.com Orascom Construction Industries(OCI) Nile City Towers - South Tower 2005A Corniche El Nil Hassan Badrawi Cairo, Egypt 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
Contact Information:
Contacts:
RNS
Customer
Services
0044-207797-4400
http://www.rns.com