As per standalone results, the company turned into profitability of $3.16 million during January/June period of 2019, compared to loss of $1.4 billion in the same period of prior year.
The total new awards during the first half of the current year reached $1.4 billion, recording a 42 percent increase on an annual basis.
As per standalone results, the company recorded loss of $36.3 million, compared to loss of $9.5 million during the previous year.
As per standalone results during the nine months, Orascom turned into profitability at $202.3 million, compared to a loss of $14.9 million during the same months of the prior year.
Orascom added in a filing to the Egyptian Exchange that Abraaj’s stake was 5.4 percent in the company, amounting to about 6.26 million shares.
The project had been aimed to generate wind power at a capacity of 500 MW, but now seeks to add another 500 MW, the source added.
In standalone financial indicators, Orascom Construction’s loss decreased to $9.5 million, compared to a loss of $29.2 million in 2016.
Orascom's stake in the project has reached 60 percent, according to the statement.
Leading global engineering and construction holding Orascom, was honored by “Business Today” magazine Monday night, February 29.
Orascom Construction Limited announced that it added $650 million worth of new awards to its backlog during Q4 of 2017, according to a press release on Monday.
Total investment in Orascom’s Engie-Toyota Tsushois estimated at $400 million.
The wind farm is developed by a consortium of Egypt’s Orascom Construction, France’s GD France, and Japan’s Toyota.
Orascom Construction achieved 21 percent hike in consolidated profits to record $58.8 million in the first half 2017.
Earnings before interest, tax, depreciation and amortization (EBITDA) rose 12.1 percent to reach $111 million in the first six months of 2017.
Orascom Construction Limited’s subsidiary, the Weitz Company, has completed the largest student housing development in College Station, Texas on 2.2 million square feet.
the benchmark index EGX30 saw the exclusion of four firms and the addition of another four in the periodical review.
Pharos holding concluded that four companies will be excluded after EGX reviewed the stocks listed on EGX30 on the period from February to August on a certain criteria.