Cairo--(Marketwire - August 16, 2010) -
OCI Construction Group Cairo, Egypt / August 16, 2010, 10:30 AM OCI/BESIX Joint Venture Awarded US$ 60 million Contract to Build the New Ain El Sokhna Oil and Gas Powered 1,300 MW Power Plant in Egypt Orascom Construction Industries (OCI) announced today that an OCI/BESIX joint venture has been awarded a contract worth the equivalent of US$ 60 million for the offshore works of the new Supercritical 2x650 MW oil and gas powered power plant in Ain El Sokhna - Egypt. The scope of civil works includes the construction of 3 pipelines totaling a length of approximately 5.1 km. The client is the state-owned East Delta Electricity Production Company (EDEPC) and the project is due for completion in 24 months. OCI Construction Group Managing Director, Osama Bishai commented "OCI is proud of its track record in power plant construction in Egypt, the Middle East and North Africa regions. We will continue to target similar projects going forward as regional governments deploy infrastructure funds towards their power programs. OCI has been involved in the construction of many milestone power projects in Egypt and is confident that, given Egypt's burgeoning demand for power, the Construction Group will be a major participant in the country's power program going forward." About OCI Construction Group The Construction Group ranks among the top global contractors and operates under three distinct brands. The three groups provide a range of construction services in key regional markets in the Middle East and North Africa in addition to Europe, Africa and Central Asia. The Group primarily focuses on infrastructure (energy and related infrastructure including oil & gas, power and petrochemicals / social infrastructure including large-scale educational campuses and healthcare facilities / water including wastewater and desalination), transportation (including roads, airports, ports and railway), industrial and high-end commercial projects. To complement the construction business, OCI also owns and operates National Steel Fabrication, the largest manufacturer of fabricated steel products in the Middle East, and has investments in manufacturers of glass curtain walling, paints and concrete pipes. OCI recently announced a joint venture with Morgan Stanley to invest in infrastructure assets in the Middle East and Africa. The proposed joint venture is positioned to capitalize on Morgan Stanley Infrastructure's investing expertise and its global reach as well OCI's local and regional awareness of infrastructure needs. For additional information contact: OCI Investor Relations Department: For additional information on OCI: Omar Darwazah www.orascomci.com Email: omar.darwazah@orascomci.com OCI stock symbols: OCIC.CA / ORCI EY / OCICqL / ORSD Erika Wakid Orascom Construction Industries (OCI) Email:erika.wakid@orascomci.com Nile City Towers - South Tower 2005A Corniche El Nil Cairo, Egypt Hassan Badrawi Director Tel: +202 2461 1036/0727/0914 Fax: +202 2461 9409 This information is provided by RNS The company news service from the London Stock Exchange END
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