2 June 2009

Nigeria: Construction Coy Spends $500 Million for Project

Orascom Construction Industry's Project Manager, Mohamed El Dahshoury, has said $500 million was spent for the construction of the company in Nigeria which would have been half of the money if it were in his country, Egypt.

In a press briefing at Egypt ambassador's residence, he added that the company faced a lot of challenges in Nigeria at the beginning of the project, but was able to start production in Nigeria March 2009.

He said main challenges faced during construction included approach roads to site, site levelling, logistics and severe rains in Cross River State.

He stated that "In March 31, 2006, the joint venture had a strike during the pay day and that led to burning and destruction of most the joint venture set up and the site was closed but, months later Orascom re-opened the site and started rebuilding what was destroyed from the mobilization set up.

He stated that "two big projects that we constructed in Nigeria within a very short period of time, we had accomplished our tasks here and had printed our name among the most reputable international companies operating in Nigeria the companies are Orascom Construction Industries Nigeria Limited in Ibadan and UNICEM cement plan in Cross River State".

He said Orascom Construction Industries which started in the last 50 years have grown from small family run construction business into one of Egypt's largest corporations with projects and investments across Europe, Middle East, north and West Africa.

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