Orascom Construction adds $650m to its backlog in first quarter

Construction of the new Grand Egyptian Museum (Giza Museum) in 2019. (File/Shutterstock)

• Projects in Egypt comprised 85 percent of new awards during the first quarter

RIYADH: Orascom Construction added $650 million of new awards to its backlog in the first three months of the year.
These new awards represent an 8 percent increase from a year earlier, the company said.
Projects in Egypt comprised 85 percent of new awards during the first quarter as the group added contracts across the health care, roads, infrastructure and commercial sectors.
New awards in the US, which accounted for the balance, were mostly commercial and light industrial projects.
The estimated consolidated backlog stood at $5.3 billion as of March 31 2021, it said.