Orascom Construction Industries (OCI)
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| Orascom Construction Industries | |
|---|---|
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| Type | Public (Template:CASE) |
| Founded | 1950 |
| Headquarters | Cairo, Egypt |
| Key people | Onsi Sawiris, Chairman, Nassef Sawiris, CEO |
| Industry | Engineering |
| Employees | circa 40,000 (2007) |
| Website | www.orascomci.com |
Orascom Construction Industries or Orascom Construction Industries SAE (OCI) (LSE: ORSD) is a leading Egyptian EPC (engineering, procurement and construction) contractor, based in Cairo, Egypt and active in more than 20 countries. OCI was established in Egypt in 1950 and owned by Onsi Sawiris. The company is the first multinational Egyptian corporation, and is one of the core Orascom Group companies.
The company's CEO, Nassef Sawiris holds a bachelor's degree in Economics from the University of Chicago (AB '82). He is Onsi Sawiris' youngest son.
As a cement producer, OCI owns and operates cement plants in Egypt, Algeria, Turkey, Pakistan, northern Iraq and Spain, which have a combined annual production capacity of 21 million tonnes.
In December 2007, OCI announced the divestment of its cement group to the french Lafarge[1]. OCI announced that this will allow it to focus on the development of its construction operations and investments in infrastructure and natural gas industries. Nassef Sawiris will also become a member of the Lafarge board of directors.
In January 2008, OCI confirmed that the share transfer of 100% of Orascom Building Materials Holding (“OBMH”), the holding company for its cement group assets, to Lafarge was executed.[2].
