Egypt's Orascom Bags $363 Million Iraq Power Project
JOHANNESBURG--April 30, 2012--Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Orascom Construction Industries (PINK:ORSCY) (OCI) (Cairo, Egypt) has formally signed the $363 million contract to build a 1,014-megawatt (MW) power station in Baija, Iraq. This follows the approval given for the project by the Iraqi cabinet in January 2012. Baija is home to Iraq's largest oil refinery and a fertilizer plant, and is a major rail junction.
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