Orascom Construction, listed in both Cairo and Dubai, posted third-quarter net income of $24.5 million, the engineering and building business said on Monday. The company reported revenue of $1.145 billion.
The building company was
Egypt's Orascom Construction said its net income for the second quarter of 2015 rose to $35.2 million.
The engineering and building business, which is dual listed in Cairo and Dubai, reported revenues of $1.017 billion.
Egypt's Orascom Construction Industries said it made a net profit in 2014 of EGP4.6 billion ($588 million) in 2014, having made a loss in 2013 of EGP1.4 billion ($178.9 million).
Sales rose to EGP7.8 billion ($996.8 million) f
Orascom Construction said it has achieved a major milestone by completing the first phase of a giant power plant in Assiut, Egypt, in record time. The plant generates and connects 375 MW to the country’s national grid.
Orascom Construction is bullish about growth opportunities in Egypt but wants the government to make clear commitments to further economic reforms, Osama Bishai, the company's chief executive said in an interview.
Shares in Egypt's Orascom Construction (OC) will start trading on the Cairo stock market on Wednesday, the Egyptian Exchange said on Tuesday.
The bourse, which had earlier in the day said it was still undecided on the date, sa
Leading engineering and building group Orascom Construction said it is in talks with leading banks in the region to finance the first phase of a $5-billion coal-fired power plant in Egypt.
Last November, Orascom Construction had announc
Shares in Egypt's Orascom Construction (OC) started trading at $14.70 as they listed on Nasdaq Dubai on Monday, well above the initial public offer price of $14.25.
The stock then rose further to $14.75, though trading volume
Orascom Construction plans to offer 11 per cent of its shares on the Cairo bourse to raise E£1.41 billion ($185 million).
The company is being spun off from Amsterdam-listed OCI NV, which will retain its fertiliser and chemi
Orascom Construction, a leading global engineering and construction contractor, after a demerger from Netherlands-based OCI NV, a global producer of fertilisers, will be listed on Nasdaq Dubai and Egyptian Exchange (EGX), a report said.