Amsterdam / Abu Dhabi / 22 September 2025: OCI Global (Euronext: OCI, "OCI") and Orascom Construction PLC (ADX and EGX:ORAS, "Orascom Construction") today announced that they are pursuing a potential merger (the "Combination"). The Combination would establish a scalable infrastructure and investment platform anchored in Abu Dhabi, with global reach. Specifically, the Combination would offer the following benefits:
• Complementary Strengths: The Combination will bring together Orascom Construction's world-class execution capabilities - supported by a USD 14 billion backlog[1], deep industry expertise in infrastructure, and multi-decade delivery of complex projects and concessions primarily in the United States, the GCC, Egypt, Europe and select emerging markets - and OCI's institutional investment platform, transactional expertise, and proven track record of disciplined capital allocation.
• Strong Balance Sheet: The Combination will unite and enhance the companies' financial strength, consolidating substantial capital resources and funding capabilities. This strengthened platform will facilitate investment in large-scale infrastructure opportunities through multiple channels, including equity, credit, and operation and maintenance participation, while leveraging Orascom Construction's established experience in the space. Together these attributes position the Combination to unlock a new phase of growth.
• Infrastructure Track Record: The Combination will provide a globally diversified platform from which to leverage Orascom Construction's long-standing track record and access to an infrastructure opportunities pipeline spanning multiple industries including digital, aviation, transportation, power and water, as well as leadership credentials in delivering landmark projects such as U.S. data centres, and other notable industrial and infrastructure investments.
Track Record of Value Creation
Orascom Construction and OCI have each consistently created value across cycles and geographies spanning five continents, including the execution of landmark infrastructure transactions, industrial projects, and the creation of global businesses. Since inception in 1950 by Onsi Sawiris, Orascom Construction has established a strong brand in delivering quality projects and building strong repeated alliances with partners and clients across the world, becoming a leading global Engineering, Procurement and Construction (EPC) player ranked among the world's top 30 international contractors, and creating a culture that has made the company an employer of choice, attracting and retaining the best talent in a competitive industry. Since 1999, OCI with its entrepreneurial investment has developed a global leading cement, nitrogen, and methanol business, and pioneered the world's first large-scale greenfield blue ammonia plant in the United States.
The periods of greatest value creation in Orascom Construction's and OCI's history have been when their businesses were combined - first in cement and later in natural gas-based industries, where the companies built scale and delivered substantial returns. OCI - including Orascom Construction in its predecessor form - has distributed dividends to shareholders of approximately USD 22 billion and delivered an internal rate of return (IRR) of approximately 39% over the period.
Looking ahead, the Combination is poised to contribute to and benefit from the opportunities in infrastructure, and through a fusion of capital, investment and industry expertise, seeks to strengthen and grow a diversified platform that will create recurring value across cycles, for years to come.
Structure of the Potential Combination
OCI and Orascom Construction are exploring a structure whereby Orascom Construction would be the acquiring ADGM-incorporated and ADX-primary listed entity. Subject to ongoing negotiations on the structure of the potential Combination, OCI shareholders would receive new Orascom Construction shares at a ratio to be determined after completion of reciprocal due diligence and relative valuation. OCI would then subsequently be liquidated and delisted from Euronext Amsterdam.
If a transaction can be agreed and approved by the boards of the two companies, it will be submitted to shareholders of both companies, and for regulatory approvals from the relevant authorities.
[1] Comprised of Orascom Construction's consolidated backlog of USD 9.6 billion plus its 50% share of BESIX Group's EUR 7.5 billion backlog.
Notes
Market Abuse Regulation
This press release contains information regarding OCI, which may qualify as "inside information" within the meaning of Article 7(1) of the EU Market Abuse Regulation.
ABOUT OCI GLOBAL
OCI Global (Euronext: OCI) is a global investment platform focused on long-term value creation through disciplined capital allocation. With a 30-year history of building and scaling sector-leading businesses in fertilizers, ammonia, methanol, cement, and infrastructure, OCI has returned approximately USD 7 billion to shareholders since 2022.
ABOUT ORASCOM CONSTRUCTION PLC
Orascom Construction PLC (ADX and EGX:ORAS, "Orascom Construction" or the "Group") is a leading global engineering and construction contractor with a long-standing track record of delivering large-scale, complex infrastructure, industrial, and commercial projects across the Middle East, Africa, and the United States.
The Group has a global infrastructure and industrial track record of projects completed and under construction including over 30 GW of power; c.17 million m3/day of desalination, water and wastewater treatment capacity; over 3,800 km of high-speed, monorail and metro, including the largest high-speed network under construction worldwide; and iconic social infrastructure projects such as the Grand Egyptian Museum.
In the U.S., through its subsidiaries Orascom Construction USA, The Weitz Company, EPI Power, and Contrack Watts, Orascom Construction builds on a 170-year legacy and is today highly active across data centers and aviation, with a track record of over 1 GW of data centers and more than thirty aviation projects.
Orascom Construction also develops and invests in concessions. The Group's portfolio spans seawater and wastewater treatment, renewable energy, and logistics in the United Arab Emirates, Saudi Arabia, and Egypt, including 913 MW of wind farms and the largest operational wind farm in the Middle East and Africa.
Orascom Construction owns 50% of BESIX Group, one of Europe's largest privately-owned contractors, with operations across construction, concessions and real estate across Europe, Middle East, Africa, and Australia. BESIX has a proven track record that includes Burj Khalifa, Zayed National Museum, and Guggenheim Abu Dhabi in the UAE and Oosterweel Link-Scheldt Tunnel in Belgium, and has an established portfolio of concessions in Europe and the UAE of over 20 years, including transportation and marine in Europe and water treatment, waste-to-energy and social infrastructure in the UAE.
Orascom Construction has a total backlog including its 50% share in BESIX of USD 14 billion.
The Group also owns a portfolio of subsidiaries across building materials, facility management and equipment services.
Orascom Construction has consistently ranked among the world's top contractors and is dual listed on the Abu Dhabi Securities Exchange (ADX) and the Egyptian Exchange (EGX).
CONTACT DETAILS
OCI GLOBAL
Sarah Rajani CFA, Global Vice President, Investor Relations and Communications
Email: sarah.rajani@oci-global.com
ORASCOM CONSTRUCTION PLC
Hesham El Halaby, Vice President, Investor Relations and Corporate Communications Email: hesham.elhalaby@orascom.com
• Complementary Strengths: The Combination will bring together Orascom Construction's world-class execution capabilities - supported by a USD 14 billion backlog[1], deep industry expertise in infrastructure, and multi-decade delivery of complex projects and concessions primarily in the United States, the GCC, Egypt, Europe and select emerging markets - and OCI's institutional investment platform, transactional expertise, and proven track record of disciplined capital allocation.
• Strong Balance Sheet: The Combination will unite and enhance the companies' financial strength, consolidating substantial capital resources and funding capabilities. This strengthened platform will facilitate investment in large-scale infrastructure opportunities through multiple channels, including equity, credit, and operation and maintenance participation, while leveraging Orascom Construction's established experience in the space. Together these attributes position the Combination to unlock a new phase of growth.
• Infrastructure Track Record: The Combination will provide a globally diversified platform from which to leverage Orascom Construction's long-standing track record and access to an infrastructure opportunities pipeline spanning multiple industries including digital, aviation, transportation, power and water, as well as leadership credentials in delivering landmark projects such as U.S. data centres, and other notable industrial and infrastructure investments.
Track Record of Value Creation
Orascom Construction and OCI have each consistently created value across cycles and geographies spanning five continents, including the execution of landmark infrastructure transactions, industrial projects, and the creation of global businesses. Since inception in 1950 by Onsi Sawiris, Orascom Construction has established a strong brand in delivering quality projects and building strong repeated alliances with partners and clients across the world, becoming a leading global Engineering, Procurement and Construction (EPC) player ranked among the world's top 30 international contractors, and creating a culture that has made the company an employer of choice, attracting and retaining the best talent in a competitive industry. Since 1999, OCI with its entrepreneurial investment has developed a global leading cement, nitrogen, and methanol business, and pioneered the world's first large-scale greenfield blue ammonia plant in the United States.
The periods of greatest value creation in Orascom Construction's and OCI's history have been when their businesses were combined - first in cement and later in natural gas-based industries, where the companies built scale and delivered substantial returns. OCI - including Orascom Construction in its predecessor form - has distributed dividends to shareholders of approximately USD 22 billion and delivered an internal rate of return (IRR) of approximately 39% over the period.
Looking ahead, the Combination is poised to contribute to and benefit from the opportunities in infrastructure, and through a fusion of capital, investment and industry expertise, seeks to strengthen and grow a diversified platform that will create recurring value across cycles, for years to come.
Structure of the Potential Combination
OCI and Orascom Construction are exploring a structure whereby Orascom Construction would be the acquiring ADGM-incorporated and ADX-primary listed entity. Subject to ongoing negotiations on the structure of the potential Combination, OCI shareholders would receive new Orascom Construction shares at a ratio to be determined after completion of reciprocal due diligence and relative valuation. OCI would then subsequently be liquidated and delisted from Euronext Amsterdam.
If a transaction can be agreed and approved by the boards of the two companies, it will be submitted to shareholders of both companies, and for regulatory approvals from the relevant authorities.
[1] Comprised of Orascom Construction's consolidated backlog of USD 9.6 billion plus its 50% share of BESIX Group's EUR 7.5 billion backlog.
Notes
Market Abuse Regulation
This press release contains information regarding OCI, which may qualify as "inside information" within the meaning of Article 7(1) of the EU Market Abuse Regulation.
ABOUT OCI GLOBAL
OCI Global (Euronext: OCI) is a global investment platform focused on long-term value creation through disciplined capital allocation. With a 30-year history of building and scaling sector-leading businesses in fertilizers, ammonia, methanol, cement, and infrastructure, OCI has returned approximately USD 7 billion to shareholders since 2022.
ABOUT ORASCOM CONSTRUCTION PLC
Orascom Construction PLC (ADX and EGX:ORAS, "Orascom Construction" or the "Group") is a leading global engineering and construction contractor with a long-standing track record of delivering large-scale, complex infrastructure, industrial, and commercial projects across the Middle East, Africa, and the United States.
The Group has a global infrastructure and industrial track record of projects completed and under construction including over 30 GW of power; c.17 million m3/day of desalination, water and wastewater treatment capacity; over 3,800 km of high-speed, monorail and metro, including the largest high-speed network under construction worldwide; and iconic social infrastructure projects such as the Grand Egyptian Museum.
In the U.S., through its subsidiaries Orascom Construction USA, The Weitz Company, EPI Power, and Contrack Watts, Orascom Construction builds on a 170-year legacy and is today highly active across data centers and aviation, with a track record of over 1 GW of data centers and more than thirty aviation projects.
Orascom Construction also develops and invests in concessions. The Group's portfolio spans seawater and wastewater treatment, renewable energy, and logistics in the United Arab Emirates, Saudi Arabia, and Egypt, including 913 MW of wind farms and the largest operational wind farm in the Middle East and Africa.
Orascom Construction owns 50% of BESIX Group, one of Europe's largest privately-owned contractors, with operations across construction, concessions and real estate across Europe, Middle East, Africa, and Australia. BESIX has a proven track record that includes Burj Khalifa, Zayed National Museum, and Guggenheim Abu Dhabi in the UAE and Oosterweel Link-Scheldt Tunnel in Belgium, and has an established portfolio of concessions in Europe and the UAE of over 20 years, including transportation and marine in Europe and water treatment, waste-to-energy and social infrastructure in the UAE.
Orascom Construction has a total backlog including its 50% share in BESIX of USD 14 billion.
The Group also owns a portfolio of subsidiaries across building materials, facility management and equipment services.
Orascom Construction has consistently ranked among the world's top contractors and is dual listed on the Abu Dhabi Securities Exchange (ADX) and the Egyptian Exchange (EGX).
CONTACT DETAILS
OCI GLOBAL
Sarah Rajani CFA, Global Vice President, Investor Relations and Communications
Email: sarah.rajani@oci-global.com
ORASCOM CONSTRUCTION PLC
Hesham El Halaby, Vice President, Investor Relations and Corporate Communications Email: hesham.elhalaby@orascom.com
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