Besix wins $265m Bahrain causeway deal
Manama, June 14, 2010
Orascom Construction Industries (OCI), Egypt's biggest listed builder, said on Monday its 50-percent owned subsidiary Besix Group has won a $265 million contract to build a causeway in Bahrain.
Besix Group's stake in the joint venture with Bahrain's Haji Hassan Group will be 78 percent, or about $203 million, Orascom said in a statement.
The project entails 2.42 km of causeway road on reclaimed land and 1.6 km of existing road reconstruction. It will provide road access to the Bahrain Financial Harbor and Bahrain Business Bay.
The project will also include upgrades to the King Faisal highway and the Al-Fateh junction.
The project is scheduled for completion during the second quarter of 2013.
The Besix Group also expects future upgrade plans for the east-west route of the King Faisal highway, the statement said. - Reuters and TradeArabia News Service