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FINANCIAL NEWS
OCI bags USD146m contracts in UAE
02 Mar 2011
(MENAFN) Orascom Construction Industries (OCI) Chief Executive Officer, Nassef Sawiris, said that the company inked USD146 million deals with a joint venture of Tecnimont SpA and Samsung Engineering Company Ltd., for completing piling, civil works and buildings in Abu Dhabi, reported Investegate.
The CEO said that the work would be done for the Abu Dhabi project, Borouge 3 polyolefin units and utilities.
The CEO reported satisfaction regarding this deal as Orascom seeks to do more business with Tecnimont SpA and Samsung Engineering Company Ltd. He said that this deal represents the company’s dedication towards regional expansion.
It is worth noting that OCI is a leading company in Egypt and has projects across Europe, the Middle East and North Africa. The company has over 88,000 employees. In the first nine months of 2010, the company generated revenues amounting to USD 3.6 billion.
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