ORASCOM CONSTRUCTION PLC

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Orascom Construction : Inaugurates Concert Hall at Egypt's New Opera and Arts & Culture City

11/22/2021 EDT
full article Orascom Construction Inaugurates Concert Hall at Egypt's New Opera and Arts & Culture City

22 November, 2021

Orascom Construction PLC (NASDAQ Dubai: OC; EGX: ORAS) announces the inauguration of the Concert Hall at Egypt's Opera House and Arts & Culture City in the New Administrative Capital.

The new 1,200-seat concert hall is part of a larger 504,000 m2 project that is set elevate the arts and cultural experience in Egypt and stands as the largest of its kind in the Middle East.

The opera building alone has a built up area of 85,000 m2 and contains five halls, including a main 2,150-seat Opera, a 1,200-seat concert hall and a 600-seat theater. The Arts and Culture City will house 24 buildings including studios and galleries across multiple disciplines such as art, music and theater. In addition, the project includes the Museum of Egyptian Capitals, which will showcase Egypt's ancient and modern cities and culture, and the New Capital Library, each with a capacity to host 6,000 people.

Orascom Construction is the sole main contractor on this landmark project, which was proudly executed with the highest levels of health and safety. The project came to life with the efforts of 13,000 employees and achieved over 50 million manhours without Lost Time Injury (LTI).

Disclaimer

Orascom Construction Ltd. published this content on 22 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 December 2021 17:05:09 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2022 3 410 M - -
Net income 2022 130 M - -
Net cash 2022 286 M - -
P/E ratio 2022 4,26x
Yield 2022 10,1%
Capitalization 579 M 579 M -
EV / Sales 2022 0,09x
EV / Sales 2023 0,06x
Nbr of Employees 21 483
Free-Float 42,4%
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Osama Anwar Bishai Chief Executive Officer & Executive Director
Reham El-Beltagy Group Chief Financial Officer
Jérôme Guiraud Chairman
Maged Albert Eqladios Abadir Chief Operations Officer
Sami Farid Haddad Independent Non-Executive Director
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