Orascom Construction (OC) [ORAS.CA] announced that its consortium with Metito and MOWAH has signed a sewage treatment agreement with the Water & Electricity Company (WEC) for Dammam West Independent Sewage Treatment Plant (ISTP) in Saudi Arabia. The move marks the start of required steps towards the conclusion of all documentation, contracts and agreements to achieve financial close for the project. The project will be executed on a build-own-operate-transfer (BOOT) basis and will have an initial capacity of 200,000 cubic metres/day, expandable to 350,000 cubic metres/day. OC will take the lead on the engineering, procurement and construction (EPC) of the project.
Orascom Construction Limited: EGP116.49 as of 21 Jan. 2019, Rating: Buy, TP: EGP170.00/share, MCap: USD760mn, ORAS EY/ORAS.CA
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