Egypt’s Orascom Construction Industries (OCI) has been awarded a contract in Saudi Arabia worth $450m to build roads and related infrastructure.
Orascom Saudi Limited (OSL), the local subsidiary of OCI, will carry out civil, mechanical and electrical works as part of the infrastructure deal. The work will involve building 2.1 million square metres of roads and walkways and all of the required excavation work.
The contract also involves the supply and installation of 146 kilometres of drainage piping, as well as the supply and installation of electrical substations, which will include the installation of 238km of copper cable.
The infrastructure work will take 24 months to complete.
“This contract marks a major step forward in establishing OCI in Saudi Arabia and positions us for further opportunities in the future. We are confident that 2011 will see significant growth in our Saudi Arabian business,” says Osama Bishai, chief operating officer at OCI.
Saudi Arabia has pledged to spend $29.6bn on upgrading its transport infrastructure over the next five years (MEED 10:9:11).