Egypt’s Orascom Construction has revealed accumulating USD 650 mn of new awards to its backlog in Egypt and the US during the second quarter of 2018, Invest-Gate reports.

Orascom won USD 415 mn worth of awarded contracts in Egypt across vital sectors including transportation, water, and new urban developments, according to a company’s statement published on Sunday, July 8.

“A portion of these projects has commenced under a letter of intent and execution is underway,” the statement has highlighted.

As for the US, Orascom has confirmed signing new contracts valued at nearly USD 235 mn during Q2, meeting the developer’s expectations with an “uptick” in its activity from the previous quarter.

“These new awards are comprised of projects across the commercial, infrastructure, and industrial sectors, including the Stage 2 extension to the PHX Sky Train guideway and maintenance facility at Phoenix Sky Harbor International Airport in Arizona,” Orascom has noted.