CAIRO: On Monday, Egyptian construction giant Orascom Construction Industries (OCI) reported it had won a $60 million contract to erect offshore oil and gas power plants in the Red Sea. The new plant will be 50 percent owned by BESIX unit. According to statements from the company, the plant near the Red Sea resort town of Ain Sukhna, about an hour from Cairo, is owned by the Egyptian government-run East Delta Electricity Production Company. According to Orascom, the power plant will be completed within two years. The effort will also include constructing three pipelines of around three miles in length, the statement added. Orascom added that it would attempt to secure similar contracts as regional governments continue to look for increasing their power output. BM
