Egypt's Amriyah Cement has awarded Orascom Construction Industries (OCI) and its partner a $112-million contract to build a new production line, OCI said in a statement on Wednesday, May 16.
It said that Amriyah ― a subsidiary of Portugal's Cimpor ― handed the 434.6 million pound contract to a consortium of OCI and Krupp Polysius to construct a line with a capacity of 1.4 million tons of clinker per year.
Work will commence in early June and is expected to be completed in 27 months, the statement added. At 1140 GMT, OCI was off 0.02 pounds at 34.49. ― (Reuters, Cairo)
($1=3.88 Egyptian pounds)
© Reuters 2001
© 2001 Mena Report (www.menareport.com)