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| OCI new JV lands first contract for US$ 150 million Orascom Construction Industries (OCI), Egypt's largest builder by market value, announced that its new construction joint venture, "Arabian Sea Foundation" (previously announced as “Emirates Foundation”) based in Abu Dhabi, UAE, in partnership with Hydra Commercial Investments, Sorouh Real Estate PJSC and Capital Investment, landed its first construction contract worth US$ 150 million. The construction contract is for the enabling works of the Shams Abu Dhabi, Gate District towers project which is part of the Al Reem Island development. The contract was awarded by a Sorouh and Tameer Holdings Investments joint venture. The Al Reem Island project is located in Abu Dhabi, UAE and is being developed by Sorouh. The US$ 150 million scope of work includes the piling and foundation works as well as the dewatering and excavation works for the real estate development. write your comments about the article :: © 2008 Construction News :: home page |