Orascom Construction’s net income up 20 percent
Orascom Construction Industries recorded a net income of EP 363.9 million ($63.1 million) for 2002, a 20 percent increase compared to figures from last year. Consolidated revenues reached EP 2.9 million, increasing by 21 percent and gross profit hit EP 763.5 million, up one percent during the same period.
OCI focuses on three high growth business activities construction, building materials manufacturing and infrastructure development. The Construction Group provides engineering, procurement and construction services on industrial, commercial, infrastructure, and railway projects.
The Building Materials Group invests in manufacturers of basic and specialized products for contractors and industrial users, such as cement and paints. The Infrastructure Group invests in long-term infrastructure concessions including industrial parks, natural gas distribution systems, and port operations. — (menareport.com)
© 2003 Mena Report (www.menareport.com)