Orascom Construction Industries expects a transaction backed by Bill Gates for transferring the company’s shares into an Amsterdam-based unit to be concluded within four weeks, an executive said today.
Orascom Construction Industries, Egypt’s biggest publicly-traded company, moved closer to delisting in Cairo after holders of 89 percent of shares accepted a buyout offer. The stock sank the most since March.
Orascom Construction Industries, Egypt’s biggest publicly-traded builder, won a contract valued at $146 million from a venture between Tecnimont SpA and Samsung Engineering Co. to develop a petrochemicals plant in Abu Dhabi.
A joint venture between Orascom Construction Industries and The Arab Contractors plans to bid for building nuclear power plants in Egypt and other parts of the Middle East, Al Mal reported, citing a statement by the two companies.
Orascom Construction Industries, the biggest publicly traded builder, said it expects “strong demand” for infrastructure projects in the Middle East, especially after electricity blackouts in the region this month.