Orascom Construction PLC (NASDAQ Dubai: OC; EGX: ORAS) announces that its subsidiary, Orascom Construction, partners with the Internal Trade Development Authority (ITDA) to build a strategic warehouse for commodities with the Build Own Operate system in Fayoum, Invest-Gate reports.
This strategic warehouse will provide modern logistics and warehousing of important commodities across Egypt. The project will utilize the latest technological and administrative means.
Moreover, this strategic warehouse is the first phase of the program, which includes a number of warehouses in many governorates that will be launched during the next stage. Construction is expected to start once financing is concluded and to take up to 15 months, after which operation of the warehouse will commence.
This project is part of Orascom Construction’s strategy to pursue investments that provide construction opportunities coupled with long-term recurring income and builds on the Group’s existing investments and Operation & Maintenance contracts across renewable energy, water treatment, wastewater treatment, transportation and facility management.