Orascom Construction, led by Egypt's richest family, reports $9.6 billion backlog in first half

Orascom Construction, the Cairo-based company controlled by Egypt’s wealthiest family, the Sawiris family, closed the first half of its 2025 fiscal year with a project backlog of $9.6 billion. That marked a 24 percent increase from a year earlier. When including its 50 percent stake in BESIX, the pro forma backlog stood at $13.9 billion, up nearly 23 percent.

The rise was driven by steady progress on projects across the Middle East, Africa, and the U.S., with new contracts secured in Egypt, the UAE, Saudi Arabia, and Abu Dhabi’s Project Wave. Alongside the stronger backlog, Orascom reported an improvement in its financial position. Net cash grew from $696 million to $1.05 billion, while operating cash flow reached $254.2 million, reflecting the company’s ability to turn a growing pipeline of projects into solid financial results.

Orascom Construction drives $3.4 billion global awards

Orascom secured $3.4 billion in new awards in H1 2025, a 106 percent increase from the same period last year. BESIX, a key subsidiary, contributed €1.4 billion ($1.63 billion) in new awards, mainly in the Middle East and Europe.

Regionally, the Middle East and Africa segment added $1.58 billion in new awards, including infrastructure projects on Egypt’s North Coast and a 3 GW power plant in Saudi Arabia, lifting regional backlog to $6.9 billion, up 20.7 percent.

In the U.S., the group booked $1.83 billion in new awards, primarily for hyperscale data center projects exceeding 400 MW, driving U.S. backlog 33.6 percent higher to a record $2.6 billion. BESIX’s standalone backlog reached €7.5 billion ($8.73 billion), nearly 10 percent higher year-on-year, reinforcing Orascom Construction’s robust global project pipeline.

Management credits growth to concessions, strategic expansion

Osama Bishai, CEO of Orascom Construction, attributed the company’s strong H1 2025 performance to its expanding concessions portfolio and disciplined execution of long-term operational and financial strategies. Bishai highlighted the importance of building resilient fundamentals to navigate market challenges and position the company for sustained growth.

During the first half of 2025, Orascom Construction strengthened its regional footprint by advancing major projects across Egypt, the UAE, and KSA, while expanding U.S. operations in high-growth sectors such as data centers and aviation. The company reported consolidated new awards of $3.4 billion, driving a record backlog of $9.6 billion, with pro forma backlog including BESIX rising to $13.9 billion as of June 30, 2025.

Family-owned Orascom Construction rewards shareholders

Founded in 1976 by the late Egyptian businessman Onsi Sawiris, Orascom Construction remains closely tied to the family name. Their private investment firm, OS Private Trust Company, controls 54.86 percent of the company, while Nassef Sawiris himself adds to that influence with a 42.36 percent personal stake, equivalent to 46.7 million shares.

Over the years, Orascom has built a strong presence in engineering and construction projects across the Middle East, Africa, and the United States. The company has also shown a steady focus on rewarding its investors. In August 2025, it paid a dividend of $0.25 per share, bringing total payouts for the year to $51.8 million—a 20.7 percent increase compared with 2024.