Orascom Construction Plc has added $650 million new contracts to its backlog during the first quarter (Q1) of 2021, up 8 percent when compared to the year-ago period.
The projects in Egypt have represented 85% of the new awards signed across several sectors, including healthcare, roads, and infrastructure, during the first three months of 2021, according to recent statement
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Meanwhile, the new awards in the US, which accounted for the balance, were mostly comprised of commercial and light industrial projects.
The estimated consolidated backlog settled at $5.3 billion as of 31 March 2021.
It is noteworthy to mention that during the fourth quarter (Q4) of 2020, the company’s consolidated new awards rose by 16 percent YoY to $920.2 million.
