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FINANCIAL NEWS
Orascom unit wins $265m contract in Bahrain
15 Jun 2010
(MENAFN) Besix Group, a 50-percent owned subsidiary of Orascom Construction Industries (OCI), Egypt’s biggest listed builder, said that it has won a $265 million contract to build a causeway in Bahrain, Reuters reported.
Orascom said in a statement that Besix Group’s stake in the joint venture with Bahrain’s Haji Hassan Group will be 78 percent, or about $203 million,.
The project entails 2.42 kilometers of causeway road on reclaimed land and 1.6 km of existing road reconstruction. It will provide road access to the Bahrain Financial Harbor and Bahrain Business Bay.
The project will also include upgrades to the King Faisal highway and the Al-Fateh junction.
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