Orascom Construction, a NASDAQ Dubai and Egyptian Stock Exchange-listed construction company, has been awarded a $165.8 million contract to build two textile manufacturing complexes in Egypt’s Damietta and El Mahalla.
The manufacturing plants will take 16 months to build and will have seven facilities with a total size of 182,000m2.
Orascom stated in a stock market letter that the complexes would be built in 16 months and will include seven facilities with a total size of 182,000m2.
The contractor’s selection for the project “highlights the necessity of executing such major projects on a tight timetable,” according to the contractor.
CEO Osama Bishai, who was named #1 in Construction Week’s Power 100 list in 2021, leads Orascom Construction.