Orascom Construction, a leading Egypt builder, has announced that it has added $670 million of new contract awards to its backlog in the third quarter. This takes its total new awards for the nine-month perod to $3.1 billion.

 

Projects in the Middle East comprised 70% of new awards during Q3 2022, mainly across the infrastructure, logistics and commercial sectors, said the company in its disclosure to Nasdaq Dubai. 

 

New awards signed by the US subsidiaries accounted for 30% of total during the quarter. 

 

Projects in the data centre sector accounted for a significant portion of new awards signed by the US subsidiaries, highlighting the group’s successful efforts to expand across this growing sector, stated the Egyptian group.

 

The estimated consolidated backlog stood at $6.1 billion as of September 30, 2022, it added.-TradeArabia News Service