Written by: Ramy sameeh, Ahmed Allam

Orascom Construction Industries - OCI has construction work in progress amounts to around $6.5 billion, said Osama Bishai Managing Director.

Bishai stated, on the side line of a conference held on Saturday,  that OCI's construction work in progress value has reached $5.6 billion by the end of September 2014.

Egypt accounts for 26.5% of OCI's construction works, while U.S, Saudi Arabia, Algeria and the rest of the world’s countries account for 43.1% , 20.7% , 3.7% and 5.8% respectively , added Bishai.

He added that Egypt is an important hub of manpower, including company leaders. The company is committed to investing in all the available opportunities in the electricity sectors, as well as entering a partnership with the government.

Bishai noted that the company signed a contract with the Ministry of Electricity to develop coal-powered electricity stations. The contract states that the project should be completed within the first quarter of the current fiscal year 2014/2015.

He further believes that real estate sector in the company is estimated to be at $1.4bn, adding that the current price of stocks, ranging from EGP 13.33 to 15.3 is very good, especially as the company does not target high-income classes.

Translated by: Shaimaa ELSarky