Orascom Construction Consortium wins $180M contract

CAIRO – 19 March 2018: Consortium of Orascom Construction Ltd (ORAS) and UAE’s al-Sahraa Holding Company have won a project to develop the Fujairah International Airport in the United Arab Emirates for $180 million.

In a filing to the Egyptian Exchange (EGX), Orascom clarified that the project includes all major infrastructure work to develop the airport; this includes the construction of a new air control tower, expansion of the existing runway, the addition of a new emergency runway with highways, and the installation of all airport systems.

Orascom's stake in the project has reached 60 percent, according to the statement.

The project emphasizes the company's strategy in focusing on specialized projects, particularly in the sectors in which the company works both within and outside of Egypt, according to Orascom.

Orascom Construction Ltd is a public company, listed on Nasdaq Dubai and EGX. It operates within the capital goods sector, with a focus on construction and engineering.

It has companies operating across South and Central Asia, North America, Western Europe, North Africa, West Africa and the Middle East.

Orascom Construction is based in Dubai, UAE and was established in January 2015. While al-Sahraa Group is a UAE company that specializes in road transportation and was founded in 1983.