Saturday 25 October 2014
 
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Orascom Construction

Orascom halts $1bn tax payment to Egypt

Orascom Construction Industries has suspended payment of a Dec. 31 instalment of a 7.1 billion Egyptian pound ($1.02 billion) tax settlement with Egypt's government, its Amsterdam-listed parent company OCI NV said on Wednesday.

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Orascom halts $1bn tax payment to Egypt

Orascom Construction Industries has suspended payment of a Dec. 31 instalment of a 7.1 billion Egyptian pound ($1.02 billion) tax settlement with Egypt's government, its Amsterdam-listed parent company OCI NV said on Wednesday.

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Orascom wins approval for shares buyout

The Dutch-listed parent of Egypt’s Orascom Construction Industries said it has received regulatory approvals to buy out other shareholders in the Egyptian subsidiary in a tender offer that begins on Thursday (June 27). OCI N

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OCI to sell Gavilon stake for $605m

Egypt's Orascom Construction Industries (OCI) said on Tuesday it had agreed to sell its 16.8 per cent stake in US grains merchant Gavilon to Japanese trading house Marubeni for $605 million. 'The transaction is expected to close by

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Orascom Construction Q4 net plunges 34pc

Egyptian group Orascom Construction reported a 34 percent drop in quarterly net income, missing expectations after being hit by debt restructuring and other charges. The company's shares gained 2.6 percent as analysts welcomed its construc

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Morocco axes Orascom from solar project

Morocco has excluded a group led by Egypt-based Orascom Construction Industries from the bidding for the first phase of a major solar energy project, l'Economiste newspaper reported. The newspaper gave no reason for the exclusion and a

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Egypt's OCI Q3 net up 24pc to $183m

Egypt's Orascom Construction (OCI) said on Monday its net profit for the third quarter of 2011 rose 24 percent to $182.9 million, in line with the consensus forecast of analysts. Consolidated revenue grew 8.9 percent to $1.36 billion, whil

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Orascom wins Aldar mall contract

UAE's Aldar Properties said on Sunday that a unit of Egypt's Orascom Construction Industries (OCI) was given the contract to build a major retail mall on Abu Dhabi's Yas Island. Six Construct, which is fully owned by BESIX Grou

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OCI wins Palm Hills project

Egypt's Palm Hills Development, the country's second-biggest listed developer, said Orascom Construction had won the development contract for a 554 million Egyptian pounds ($93 million) Palm Hills project. Palm Hills chief executive Mohame

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Orascom Q2 net profit rises 15pc

Egypt's Orascom Construction (OCI) posted a 15 per cent rise in second-quarter net income on Tuesday and said it expected orders to grow this year as governments in the Middle East try to create more jobs by boosting infrastructure spending.

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