FINANCIAL NEWS

Orascom Construction partners with Palm Hills

25 Nov 2010

(MENAFN) Egypt’s Orascom Construction Industries (OCI) said that it has signed a deal to build infrastructure and other projects for real estate developer Palm Hills over the next two to four years, Reuters reported.

The agreement will see Orascom develop infrastructure in Cairo, Greater Cairo, Ain Sokhna and Egypt’s north coast, and could later include further projects including malls, hotels and office parks.

“Under the agreement, OCI will start three projects — one in the north coast and two at Greater Cairo area — with an expected value exceeding $104.2 million, the company said in a statement.

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