{"id":13757,"date":"2019-10-11T12:36:36","date_gmt":"2019-10-11T12:36:36","guid":{"rendered":"https:\/\/onplan.ae\/orascom-construction-seals-1-3bn-contracts-in-q3\/"},"modified":"2019-10-11T12:36:36","modified_gmt":"2019-10-11T12:36:36","slug":"orascom-construction-seals-1-3bn-contracts-in-q3","status":"publish","type":"post","link":"https:\/\/onplan.ae\/ar\/orascom-construction-seals-1-3bn-contracts-in-q3\/","title":{"rendered":"Orascom Construction seals $1.3bn contracts in Q3"},"content":{"rendered":"<div>\n<p><strong>Cairo \u2013 Mubasher<\/strong>: <a href=\"https:\/\/english.mubasher.info\/markets\/EGX\/stocks\/ORAS\">Orascom Construction Plc<\/a> has signed new contracts worth $1.3 billion during the third quarter of 2019, rising by 150% year-on-year and 39% quarter-on-quarter.<\/p>\n<p>During the first nine months of 2019, total new awards stood at $2.7 billion, registering a 79% growth from $1.5 billion in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Monday.<\/p>\n<p>Projects in Egypt accounted for 75% of total new awards in Q3-19 as the company continued to strengthen its leading position in the transportation sector.<\/p>\n<p>A consortium including Orascom Construction will design, establish, and operate and maintain two monorail lines in Egypt.<\/p>\n<p>Moreover, an Orascom Construction joint venture will implement all track works stretching for 160 kilometres for the new electric light rail transit project in the most populous Arab nation.<\/p>\n<p>Meanwhile, projects in the US represented 25% of total new awards in the three-month period ended 30 September with new projects that include additional work in the data centre sector.<\/p>\n<p>The company&#8217;s estimated consolidated backlog reached $5.1 billion as of the end of last September, compared to $4.2 billion as of 30 September 2018 and $ 4.6 billion as of 30 June 2019.<\/p>\n<p>It is noteworthy that during the first half of 2019, Orascom Construction Plc, listed on the EGX and Nasdaq Dubai, posted a <a href=\"https:\/\/english.mubasher.info\/news\/3522993\/Orascom-Construction-profits-slip-23-in-H1\">net profit of $67.2 million<\/a>, compared to $87 million in H1-18.<\/p>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"<div>\n<p><strong>Cairo \u2013 Mubasher<\/strong>: <a href=\"https:\/\/english.mubasher.info\/markets\/EGX\/stocks\/ORAS\">Orascom Construction Plc<\/a> has signed new contracts worth $1.3 billion during the third quarter of 2019, rising by 150% year-on-year and 39% quarter-on-quarter.<\/p>\n<p>During the first nine months of 2019, total new awards stood at $2.7 billion, registering a 79% growth from $1.5 billion in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Monday.<\/p>\n<p>Projects in Egypt accounted for 75% of total new awards in Q3-19 as the company continued to strengthen its leading position in the transportation sector.<\/p>\n<p>A consortium including Orascom Construction will design, establish, and operate and maintain two monorail lines in Egypt.<\/p>\n<p>Moreover, an Orascom Construction joint venture will implement all track works stretching for 160 kilometres for the new electric light rail transit project in the most populous Arab nation.<\/p>\n<p>Meanwhile, projects in the US represented 25% of total new awards in the three-month period ended 30 September with new projects that include additional work in the data centre sector.<\/p>\n<p>The company&#8217;s estimated consolidated backlog reached $5.1 billion as of the end of last September, compared to $4.2 billion as of 30 September 2018 and $ 4.6 billion as of 30 June 2019.<\/p>\n<p>It is noteworthy that during the first half of 2019, Orascom Construction Plc, listed on the EGX and Nasdaq Dubai, posted a <a href=\"https:\/\/english.mubasher.info\/news\/3522993\/Orascom-Construction-profits-slip-23-in-H1\">net profit of $67.2 million<\/a>, compared to $87 million in H1-18.<\/p>\n<\/p><\/div>","protected":false},"author":1,"featured_media":13758,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[938],"tags":[],"class_list":["post-13757","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/posts\/13757","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/comments?post=13757"}],"version-history":[{"count":0,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/posts\/13757\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/media\/13758"}],"wp:attachment":[{"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/media?parent=13757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/categories?post=13757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/tags?post=13757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}