Orascom Construction Adds USD 785 Million to its Backlog in Q4 2021
17 January, 2022
Orascom Construction PLC (NASDAQ Dubai: OC; EGX: ORAS) announces that it has added USD 785 million of new awards to its backlog in Q4 2021. This brings total new awards to USD 3.5 billion in FY 2021, marking a 22% increase y-o-y.
Projects in the Middle East comprised 55% of new awards during Q4 2021, which included transportation and power projects in Egypt, and water projects in Egypt and Tunisia. New awards in the U.S. accounted for 45% of total during the quarter, mainly led by projects in the commercial sector.
The estimated consolidated backlog stood at USD 6.1 billion as of 31 December 2021, reflecting a slight increase over the record backlog level achieved as of 30 September 2021.
Orascom Construction Ltd. published this content on 17 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 January 2022 03:34:03 UTC.