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Work under construction worth $5.6bn until September 2014: OCI Managing Director - Daily News Egypt

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Work under construction worth $5.6bn until September 2014: OCI Managing Director

We added $900m more to construction works, says Osama Bishai


Egypt’s share of Orascom Construction Industries’ construction works is until now at 26.5%, and the U.S share is at 43.1%, as well as 20.7% to Saudi Arabia, 3.7% to Algeria, and 5.8% to the rest of the world’s countries, Managing Director Osama Bishai stated in a press conference Saturday.

He added that Egypt is an important hub of manpower, including company leaders. The company is committed to investing in all the available opportunities in the electricity sectors, as well as entering a partnership with the government.

Bishai noted that the company signed a contract with the Ministry of Electricity to develop coal-powered electricity stations. The contract states that the project should be completed within the first quarter of the current fiscal year 2014/2015.

He further believes that real estate sector in the company is estimated to be at $1.4bn, adding that the current price of stocks, ranging from EGP 13.33 to 15.3 is very good, especially as the company does not target high-income classes.

 

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https://dailynewsegypt.com/2015/02/21/work-construction-worth-5-6bn-september-2014-oci-managing-director/
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