Egypt’s Orascom Construction adds USD 475mn to its backlog in Q1 2019
Orascom Construction PLC (NASDAQ Dubai: OC; EGX: ORAS) announces that it has added approximately USD 475 million of new awards to its backlog in Q1 2019.
Projects in Egypt comprised approximately 75% of total new awards during the quarter across market segments including infrastructure, marine, roads, the New Administrative Capital and Al Alamein.
New awards in the U.S., which accounted for the balance, were mostly comprised of private sector work in the commercial and data center sectors.
The estimated consolidated backlog stood at USD 4.2 billion as of 31 March 2019