Cairo – Mubasher: Orascom Construction recorded a consolidated backlog of $7.60 billion and a pro forma backlog including a 50% share in BESIX of $11.90 billion as of 31 December 2024.
Revenues hit $3.25 billion in 2024, while the adjusted EBITDA reached $158.30 million, according to a press release.
The adjusted net income attributable to shareholders stood at $117.30 million at the end of 2024. New awards amounted to $3 billion.
Osama Bishai, CEO of Orascom Construction, said: “Our construction activities enjoy a healthy backlog of $7.60 billion, led by quality projects across our target sectors in Egypt, the Middle East and the US.”
Bishai added: “Our backlog in Egypt mitigates currency volatility, while our U.S. business continues to progress in a robust manner.”
The company recently inked a contract to build a 3-GW combined cycle gas-fired power plant in Saudi Arabia.
He commented: “This combined cycle gas-fired power plant also extends our strong capabilities as a leading player in the power sector in the region with a track record of projects completed and under construction in the Middle East and Africa exceeding 30 GW, including two 4.80 GW combined cycle gas-fired power plants constructed in Egypt.”
