Orascom in Libya

Orascom in Libya
Published: 10 May 2006

Orascom Construction Industries announced that it was awarded a US$40m subcontract by F.L.Smidth of Denmark, a leading global equipment supplier, for the supply of steel structures and plate work in addition to mechanical, steel structure and electrical installation works on a 5000tpd greenfield cement production line in Libya. Earlier this year, OCI completed work on a similar production line at the same cement plant for a total value of US$30m.

OCI Chief Executive Officer, Nassef Sawiris commented " During 2004, OCI announced its return to the Libyan construction market to capitalize on various construction opportunities in this relatively underserved market. We continue to believe that the Libyan market may become an important engine of growth for our north African operations in the next few years. Demand for construction services will continue to grow driven by rising investments in the petrochemical, infrastructure and tourism sectors."