IFCo Awards OCI Construction Group EPC Contract Cairo -- (Marketwire) -- 09/06/12 -- *T Cairo, Egypt / 5 September, 2012 11:15 PM Iowa Fertilizer Company Awards the OCI Construction Group an Engineering, Procurement and Construction Contract Valued in Excess of US$ 1 Billion Orascom Construction Industries (OCI) announced today that its wholly owned subsidiary Iowa Fertilizer Company (IFCo) has awarded the OCI Construction Group a turnkey engineering, procurement and construction (EPC) contract to build its new greenfield nitrogen fertilizer plant in southeastern Iowa. The total contract value is expected to exceed US$ 1 billion. Under the terms of the EPC contract, the new plant will utilize proven state-of-the-art production process technologies from Kellogg Brown and Root LLC (KBR), Stamicarbon BV (Maire Tecnimont Group) and ThyssenKrupp Uhde (Uhde) to produce between 1.5-2 million metric tons per year of ammonia, urea, urea ammonium nitrate (UAN) as well as diesel exhaust fluid (DEF), an environmentally friendly fuel additive. Tecnimont S.p.A. (Maire Tecnimont Group) will provide engineering and procurement (EP) services for the ammonia line while Uhde will provide EP services for the urea, UAN and DEF lines. Construction work on the plant is expected to be completed in 35 months. The OCI Construction Group ranks among the world's top global contractors and has built several nitrogen fertilizer plants in the Middle East. The OCI Construction Group has had a long standing relationship and successful track-record working with KBR, Marie Tecnimont Group and Uhde on various projects, including four nitrogen fertilizer plants in Egypt and Algeria with a combined value exceeding US$ 3 billion. The OCI Construction Group is currently building a nitrogen fertilizer plant in Egypt in cooperation with Marie Tecnimont Group and KBR. OCI Construction Group Chief Operating Officer, Osama Bishai, commented"the OCI Construction Group will draw upon its experience and expertise in building similar facilities and will also leverage its US construction platform which now includes the Weitz Company to fast-track the construction of this project. We have worked well with Maire Tecnimont Group and Uhde on several projects and believe our performance on t his project will be a landmark reference for us to grow our business in North America." Maire Tecnimont Group Chief Operating Officer, Pierroberto Folgiero, commented "we are very proud to cooperate again with an important and prestigious group such as OCI. This award represents the first recent success of the Maire Tecnimont Group in North America, a very promising market in the future. This contract opens up new growth opportunities in North America for our Group and consolidates our track record in the strategic fertilizer sector." Chairman of the Executive Board of ThyssenKrupp Uhde, Dr. Michael Thiemann commented ''the fertilizer contract in Iowa is the next chapter in our success story with OCI, which, after Egypt and Algeria, has now taken us to the United States. We are looking forward to nurturing our long-standing relationship with OCI by working closely on this project." About Orascom Construction Industries OCI is one of Egypt's largest corporations employing more than 72,000 people in 35 countries around the globe. The OCI Fertilizer Group owns and operates nitrogen fertilizer plants in Egypt, the Netherlands, the United States, and Algeria and has an international distribution platform spanning from the Americas to Asia. The OCI Fertilizer Group ranks among the world's top fertilizer producers with a production capacity which will exceed 7.0 million metric tons in 2012. The OCI Construction Group provides international engineering and construction services primarily on infrastructure, industrial and high-end commercial projects in Europe, the Middle East and North Africa for public and private clients. The OCI Construction Group ranks among the world's top global contractors. For additional information contact: For additional information on OCI: OCI Investor Relations www.orascomci.com Department: Omar Darwazah OCI stock symbols: OCIC.CA / OCIC EY / Email: OCICqL / ORSD / ORSCY firstname.lastname@example.org Erika Wakid Orascom Construction Industries (OCI) Email: Nile City Towers - South Tower email@example.com 2005A Corniche El Nil Cairo, Egypt Hassan Badrawi Director Tel: +202 2461 1036/0727/0917 Fax: +202 2461 9409 This information is provided by RNS The company news service from the London Stock Exchange END Contacts: RNS Customer Services 0044-207797-4400 firstname.lastname@example.org http://www.rns.com
IFCo Awards OCI Construction Group EPC Contract
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