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| Orascom Construction Industries Invests in Egypt Plant Orascom Construction Industries (OCI) announced that it is investing in a 30% stake in Egypt Basic Industries Corporation (EBIC) which is about to construct a 2, 000 metric ton per day greenfield ammonia plant, the largest of its kind in Egypt, with a total investment cost of US$ 540 million. OCI's share in the equity of the project amounts to US$ 57 million which makes it the largest single shareholder. Other project sponsors include PSK Holdings (project promoter), Amiral Group, and the Egyptian General Petroleum Company. Kellog Brown & Root will act as the Engineering, Procurement & Construction (EPC) contractor for the greenfield plant and OCI will be the lead subcontractor. The plant will be constructed on a surface area of 260, 000 square meters to be located in the industrial park that is managed and operated by OCI's majority owned subsidiary Suez Industrial Development Company (SIDC) in Ain Sokhna. In addition, a pipeline connecting the plant to storage tanks located in the nearby Sokhna Port will be built to facilitate export operations. Orascom Construction Industries provide engineering, procurement and construction services on industrial, commercial and infrastructure projects for private and public customers principally in the Middle East, Africa and Central Asia. write your comments about the article :: © 2005 Construction News :: home page |