Orascom Construction Industries, Egypt's largest builder by market value, said on Wednesday it had won a $150 million contract in Abu Dhabi as part of a joint venture. The contract, which includes JV partner Sorouh Real Estate, is for piling, foundation, dewatering, and excavation works on Abu Dhabi's Al Reem Island and should be completed within 14 months, Orascom said. Sorouh is one of the main developers of the 6.5 million square meter island near the United Arab Emirates capital Abu Dhabi. Other partners include Hydra Commercial Investments and Capital Investment, Orascom said. The construction contract is for the enabling works of the Shams Abu Dhabi, Gate District towers project which is part of the Al Reem Island development. The contract was awarded by a Sorouh and Tameer Holdings Investments joint venture. The project was awarded through a bidding process and is expected for completion within 14 months.
