Orascom Construction Industries

Orascom Construction
Public
Traded as LSE: ORSD
Industry construction, engineering
Founded 1950
Headquarters Cairo, Egypt
Key people
 Onsi Sawiris, chairman, Nassef Sawiris, CEO
Revenue Increase US$ 4.03 Billion (2016)[1]
Increase US$ 678 Million w/ cement operations (2011)[2]
Website www.orascom.com

Orascom Construction SAE (OC) is an engineering, procurement, and construction (EPC) contractor based in Cairo, Egypt. The company was Egypt's first multinational corporation and is one of the core Orascom Group companies. OC is one of the region’s largest corporations and is active in more than 25 countries.

History

Night view of the Nile City Towers. Orascom Construction headquarters is at the south tower (on the right). In-between the two towers lies the Fairmont Hotels and Resorts.

OC was established in Egypt in 1950 and owned by Onsi Sawiris. OC owned and operated cement plants in Egypt, Algeria, Turkey, Pakistan, northern Iraq, North Korea and Spain, which had a combined annual production capacity of 21 million tonnes.[3] In December 2007, OC announced the divestment of its cement group, Orascom Building Materials Holding (“OBMH”), the holding company for its cement group assets, to the French Lafarge.[4] The sale closed in January 2008.[5]

OC's Construction Group ranks among the world’s top global contractors and undertakes large industrial, infrastructure and select commercial projects for public and private customers principally in Europe, the Middle East and North Africa.[6]

The Nile City Towers consist of a pair of 32-floor office buildings, two of the first intelligent buildings in Egypt, implementing the EIB/KNX Building Management System.[7]

In 2013, Bill Gates Group invested $1 billion in Orascom Construction.[8]

See also

References

  1. ↑ "Orascom Construction Limited Annual Report 2016" (PDF). Orascom Construction. Retrieved 7 July 2017.
  2. ↑ "Orascom Construction Industries S.A.E. Annual Report 2011" (PDF). orascomci.com.
  3. ↑ "Orascom Construction Industries S.A.E. announces OCI Invests in DPRK Cement". Market Wired. July 16, 2007.
  4. ↑ Hollinger, Peggy; England, Andrew (10 December 2007). "Lafarge buys Orascom Cement for €10bn". Financial Times. Retrieved 21 September 2015.
  5. ↑ OCI/Lafarge transaction completion Orascom Construction Industries, undated
  6. ↑ "About Us". Orascom Construction Industries S.A.E.
  7. ↑ John Beniston, Jens Kommert ABB STOTZ-KONTAKT GmbH. "ABB i-bus® EIB / KNX References". knx-gebaeudesysteme.de. Archived from the original on 12 January 2008.
  8. ↑ "Bill Gates Group Invests $1 Billion in Orascom Construction". Bloomberg.com. 2013-01-19. Retrieved 2017-04-12.
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