Cairo, Egypt / July 2, 2008, 10:00 AM
BESIX/Alstom Consortium Receives USUSD 400 million Contract to Design and
Build the Al Safooh Transit System in Dubai, UAE
Orascom Construction Industries (OCI) confirmed today that BESIX (50%
owned by OCI) has been awarded a USUSD 400 million contract to design and
build the Al Safooh Transit System in Dubai, UAE in consortium with
Alstom. BESIX's share of the contract is approximately USUSD 175
million.
The contract value represents Phase I of the USUSD 1.2 billion transit
system project from the Dubai government's Roads & Transport Authority
(RTA). Phase I of the project will span 10 km with 13 stops and 11
Citadis - a low-floor tram built by Alstom in several European cities
- and a total of 402 trams. The project is expected to enter in to
commercial service in 2011 and Dubai will be the first city in the Gulf
region to be equipped with a tramway transit system.
BESIX also expects to pursue additional work on Phase II which consists
of a planned 4 km extension with 6 more stations and 14 additional
trams. Upon completion, the transit system will link Madinat Jumeirah,
Mall of the Emirates, Dubai Marina and Jumeirah Beach Residence.
OCI proportionately consolidates BESIX's construction backlog in its
quarterly results report.
About BESIX Group
The BESIX Group is a multi-service group operating in the construction
and real estate sectors. In construction, the Group specializes in
buildings, infrastructure and environmental projects, industrial civil
engineering, maritime and port works and real estate development.
BESIX is the largest construction company in Belgium and is active on
projects throughout Europe, northern and central Afrcia and the Middle
East. The BESIX Group is based in Brussels and was founded in 1909.
About OCI Construction Group
The OCI Construction Group ranks among the top global contractors and
operates under three distinct and separate brands. Orascom Construction
targets large industrial and infrastructure projects principally
in Egypt, North Africa and select markets in the Arab Gulf markets. The
BESIX Group undertakes major commercial, Industrial and infrastructure
projects throughout Europe and the Middle East. Contrack International
pursues institutional projects in the Middle East and Central Asia.
To complement the construction business, OCI also owns and operates
National Steel Fabrication Company, the Middle East's largest
manufacturer of fabricated steel products. OCI also has investments in
manufacturers of glass curtain walling, paints and concrete pipes, and
two facility management companies.
For additional information
contact:
For additional information on OCI:
OCI Investor Relations Department:
Orascom Construction Industries
(OCI)
Omar Darwazah
Nile City Towers - South Tower
Email: omar.darwazah@orascomci.com
2005A Corniche El Nil
Ahmed Sultan Cairo, Egypt
Email: ahmed.sultan@orascomci.com
www.orascomci.com
Tel: +202 2461 1039/1036/0727/0914
Fax: +202 2461 9409
OCI stock symbols: OCIC.CA / ORCI
EY / OCICqL / ORSD
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