The Clap
Orascom Construction (ORAS) announced its success in adding new contracts in Q2 worth $1.8 billion.
The Deets
The new contracts that were secured in Q2 increased the total contracts in H1 to $2.4 billion, a 55% increase from the year before.
The company stated that projects in Egypt represent 70% of the contracts. The remaining 30% of the contracts are projects based in the US, with a focus on sizable data centers and commercial projects.
In Related News
Orascom Construction has announced that the Sustainable Capital Africa Alpha Fund raised its stake in the company from 14.48% to 15.13%.
Dividends
Orascom is set to issue dividends to its shareholders. They will issue EGP 4.39 per share, to be given on August 24, 2022. The end date that qualifies shareholders for the dividends is August 17, 2022.
To read the full press release, click here.
Orascom Construction makes waves in Q2; set to issue dividends 🤑
