Osama Bishay, managing director of Orascom Construction Company, has expected the company’s consolidated revenues to range between EGP 3 bn and 3.5 bn in 2018, CNBC reports.

The company’s managing editor told CNBC that the construction backlog valued around EGP 4.5 bn in 2018, led by the mega water projects that marked Orascom’s main focus during the past two years.

Commenting on Orascom’s operations in the US, Bishay noted that the company is restructuring its business in the US and focusing on the efficient projects, hoping that the company turns profitable in 2019.

“We are proud of our partnership with the Belgian company Besix,” he said, pointing out the partnership’s significant contribution to the company’s profits and predicting a continued strong performance through the fourth quarter of 2018 and 2019 overall .

Last November, Orascom Construction reported a 208.5% surge in its adjusted net income of USD 69.1 mn during Q3 2018 versus USD 22.4 mn in the year-ago period.