Orascom Construction, a leading engineering and building contractor in the region, has announced that it has added approximately $920 million of new awards to its backlog in the fourth quarter.

 

This brings total new awards in FY 2020 to $2.9 billion, thus reflecting the group’s successful efforts to add high-quality projects and maintain a healthy backlog throughout the year.

 

The estimated consolidated backlog stands at $5.3 billion as of December 31, 2020, said the company in a statement.

 

Projects in Egypt comprised 62% of new awards during Q4 2020, a large portion of which is attributable to the transportation sector, while new awards in the U.S. accounted for the balance and included a sizable share of data center projects, it stated.

 

Orascom Construction recently signed with Emaar a new EGP 1 billion contract to build Vida Marina Hotel & Yacht Club in Marassi, Emaar’s flagship development on Egypt’s North Coast.

 

This project follows the group’s successful, fast-track delivery of Emaar’s Vida Al Alamein Hotel in July 2018 in less than 8 months, and builds on OC and Emaar’s repeat partner relationship spanning projects such as Mivida and Marassi.-TradeArabia News Service