SOURCE: Orascom Construction Industries

April 16, 2007 02:04 ET

Orascom Construction Industries Signs EGP 760 million Power Plant Contract in Egypt

Cairo -- (MARKET WIRE) -- April 16, 2007 --

                           NEWS RELEASE

OCI Signs EGP 760 million Power Plant Contract in Egypt

OCI Construction Group signs new construction order valued at EGP 760 million for the civil works package on the El Tebbin 2 x 350 MW Thermal Power Plant in Egypt

Cairo, Egypt - 15 April 2007: Orascom Construction Industries (OCI) announced that it has signed an EGP 760 million contract with the Cairo Electricity Production Company (CEPC), an affiliate of the Egyptian Ministry of Electricity. The award is for the construction work on a new 2 x 350 MW Thermal Power Plant located in El Tebbin, 25km south of Cairo. The plant is also located near the industrial areas of Helwan and Maadi in greater Cairo.

The scope of work under the contract includes all civil works including the plant's intake pump house and discharge structures, reinforced concrete cylinder pipes which are 2.5 meters in diameter, a 150 meter high chimney, steam turbine buildings, all auxiliary and ancillary facilities, all underground facilities, piping and duct banks as well as all associated piling, foundation, mechanical and electrical works.

The Egyptian Minister of Electricity & Energy, Hassan Younis commented "the El Tebbin contract is the second power project to be executed by OCI, having successfully completed the milestones for the 750 MW combined cycle plant in Talkha."

OCI Construction Group Managing Director, Osama Bishai commented: "The El Tebbin contract further consolidates OCI's leadership in the construction of industrial energy facilities. OCI is also pursuing similar projects in Algeria and continues to monitor infrastructure expansion programs across the region. Moreover, the El Tebbin contract also provides new business opportunities for OCI's subsidiaries which include production of steel structures, production and supply of ready-mix concrete, asphalt and foundation works."


For additional information CONTACT:

Investor Relations Department:

Hassan H. Badrawi - Director
Sarah Makiya
Omar Darwazah
Tel:  +202 2461 1039/1036
Fax: +202 2461 9409
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. Working together with our employees, business partners and customers, we are helping to build the future in developing countries around the world.

As a cement producer, we own and operate cement plants in Egypt, Algeria, Turkey, Pakistan, northern Iraq, and Spain which have a combined annual production capacity approaching 21 million tons. Our new investments in northern Iraq, Turkey, Nigeria, Algeria, the United Arab Emirates and Saudi Arabia will increase our annual production capacity to 36 million tons. Our Cement Group exports primarily from Egypt to customers in more than 30 countries including the USA, Europe, Africa and the Middle East. We produce and distribute aggregates and ready-mix concrete in Spain, Egypt and Algeria. We also manufacture cement bags in Egypt and Algeria.

As a contractor, we provide engineering procurement and construction services on large, complex and demanding industrial, commercial, water/sewage, transportation, telecommunications, maritime, tourism and railway projects for private and public customers principally in the Middle East, Africa and Central Asia. Our Construction Group is active in over 100 projects in more than 20 countries. Through partnerships with industry leaders, we also manufacture fabricated steel products as well as architectural curtain walling and window systems. As part of our long-term strategy to create a sustainable flow of construction opportunities, we also have investments in natural gas industries, including fertilizers and in infrastructure concessions including a port operator and an industrial park developer.

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 LI

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