Orascom Construction adds new deals worth $920m during Q4-20

Orascom Construction Plc has added new contracts worth around $920 million during the fourth quarter (Q4) of 2020.

This brings the value of the company’s new contracts to $2.9 billion by the end of the last year. The total value of under-execution projects is estimated at $5.3 billion by December-end.

The new projects in Egypt represent 62 percent of the total value of the new contracts concluded during Q4-20 and mainly cover the transport sector, while the new contracts signed in the US account for the remaining percentage and largely cover the data centres’ sector.

During the first nine months of 2020, Orascom Construction, listed on the Egyptian Exchange (EGX) and Nasdaq Dubai, reported net profits attributable to shareholders of $65 million.