SOURCE: Orascom Construction Industries

December 04, 2007 09:06 ET

Orascom Construction Industries announces OCI Power Plant Algeria

Cairo--(Marketwire - December 4, 2007) -


OCI is Awarded 560 million euros Contract to build a 1,200 MW Combined Cycle power plant in Algeria

Cairo, Egypt - 4 December 2007: Orascom Construction Industries ("OCI") announced as part of a consortium that it has been awarded a contract worth 1.35 billion euros by the Algerian state-owned electricity company "Sonelgaz" (Societe Nationale de l'Electricite et du Gaz) to construct a new combined-cycle power plant in Algeria on an Engineering, Procurement and Construction ("EPC") basis. The plant which is the first of its kind in Algeria will be located in Terga Wilaya de Ain Temouchent, 600 km west of the capital Algiers and 70 km from Oran City. Alstom is the consortium partner.

OCI's scope of work includes all construction works including all civil, steel structure, marine, mechanical and electrical erection works. The project is expected to be completed in 45 months.

With this project OCI reinforces its position as one of the leading contractors in the Middle East and North Africa region in the power generation sector. To-date, OCI has received contract awards for the 2x350 MW Thermal Power Plant located in El Tebbin, Egypt as well as the first 62MW Solar Combined Cycle Power Plant located in Kuraymat, Egypt, with a combined value of US$ 230 million.

In Algeria, OCI is the leading private sector contractor with a workforce of more than 5,000 personnel. OCI provides engineering, procurement and construction services on large and complex projects across Algeria including a range of transportation (airports, roads and railway), cement plants, power, telecommunications, petrochemicals, fertilizer, water and high-end commercial projects. OCI recently announced a joint venture with Algeria's state-owned oil & gas company Sonatrach for the construction of an approximately 2 million tonnes per year ammonia/urea complex where it is a 51% shareholder. OCI and Uhde, a ThyssenKrupp subsidiary, are jointly constructing the complex. OCI has also invested in Algeria's largest state-of-the-art steel fabrication complex with a capacity of 12,000 tonnes per year. Steel fabrication is an essential component in industrial construction including cement, oil & gas, power and infrastructure projects.

Orascom Construction Industries, Chief Executive Officer, Nassef Sawiris commented during the signature ceremony in Algiers today: "We are proud to be part of Algeria's drive for development. In addition to the newly announced Terga power plant, OCI is currently constructing Algeria's largest desalination plant with GE, is executing part of the largest road development projects in the country, is building Algeria's largest fertilizer complex and has constructed the country's largest cement production plants. Algeria is currently undergoing strong economic and industrial developments and key investments in infrastructure are being made. Population growth and improvements in standard of living are driving demand for infrastructure including power."

OCI stock symbols: OCIC.CA / ORCI EY / OCICqL / ORSD LI

For additional information CONTACT:

Investor Relations Department:

Hassan H. Badrawi

Omar Darwazah

Ahmed Sultan

Tel: +202 2461 1039/1036/0727/0914
Fax: +202 2461 9409
Brunswick Group LLP +44 20 7404 5959/ +33 1 53 96 83 83

Orascom Construction Industries

Orascom Construction Industries (OCI) is a leading cement producer and construction contractor active in emerging markets. Based in Cairo, we employ more than 40,000 people in over 20 countries.

As a cement producer, we own and operate cement plants in Egypt, Algeria, United Arab Emirates, Turkey, Pakistan, northern Iraq and Spain, which have a combined annual production capacity approaching 35 million tonnes. Our new investments in Nigeria, Saudi Arabia, Syria, DPRK and South Africa will increase our annual production capacity to 44 million tonnes positioning us among the world's top ten cement producers.

As a contractor, we provide engineering, procurement and construction services on large industrial, commercial and infrastructure projects for private and public customers principally in Europe, the Middle East and North Africa. We also have investments in natural gas industries, such as fertilizer producers, infrastructure concessions and steel fabrication.

For additional information on OCI:

Orascom Construction Industries (OCI)
Nile City Towers - South Tower
2005A Corniche El Nil, Cairo, Egypt
Tel: +202 2461 1111, Fax: +202 2461 9400,
OCI stock symbols: OCIC.CA / ORCI EY / OCICqL / ORSD

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