Sep 9 2010
Orascom Construction Industries (OCI) confirmed today that Six Construct Qatar (a fully owned subsidiary of the BESIX Group which is 50%-owned by OCI) has been awarded a US$ 675 million contract to build phase IIB of the Doha Convention Center & Tower in Qatar in joint venture with Midmac Contracting Co.
Six Construct Qatar’s share of the contract is approximately US$ 338 million or 50% of the total contract value.
The client is the Qatari Diar Real Estate Investment Company and the project is due for completion by the end of October 2012. The scope of work entails construction of the concrete and structural steel superstructure, electromechanical works, roof works and both internal and external finishing related to the project.
A Six Construct/Midmac joint venture is currently executing work on phase IIA of the project awarded in early 2009 valued at US$ 210 million. In addition, an OCI/BESIX joint venture is currently executing the substructure work on the Qatari Diar Nile Corniche Project in Cairo.
Orascom Construction Industries CEO, Nassef Sawiris commented “we are pleased to participate in Qatar’s steadfast world-class infrastructure program. Qatar is a core regional market for the OCI Construction Group and we are proud of our track record in building milestone projects in the country. We will continue to pursue key infrastructure projects going forward.”
The Construction Group ranks among the top global contractors and operates under three distinct brands. The three groups provide a range of construction services in key regional markets in the Middle East and North Africa in addition to Europe, Africa and Central Asia. The Group primarily focuses on infrastructure (energy and related infrastructure including oil & gas, power and petrochemicals / social infrastructure including large-scale educational campuses and healthcare facilities / water including wastewater and desalination), transportation (including roads, airports, ports and railway), industrial and high-end commercial projects. To complement the construction business, OCI also owns and operates National Steel Fabrication, the largest manufacturer of fabricated steel products in the Middle East, and has investments in manufacturers of glass curtain walling, paints and concrete pipes.
OCI recently announced a joint venture with Morgan Stanley to invest in infrastructure assets in the Middle East and Africa. The proposed joint venture is positioned to capitalize on Morgan Stanley Infrastructure’s investing expertise and its global reach as well OCI’s local and regional awareness of infrastructure needs.
Source: http://www.orascomci.com/