Orascom JV wins US$180m Fujairah airport contract

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Orascom JV wins US$180m Fujairah airport contract

Orascom Construction Limited ammounced that its joint venture with Al Sahraa Group (UAE) has been awarded approximately USD 180 million for the expansion of Fujairah International Airport in the United Arab Emirates. OC’s share of the joint venture is 60%.

The project’s scope encompasses the main infrastructure works for the airport expansion, including a new air traffic control tower, the extension of the existing runway, a new emergency runway, rapid exit taxiways and the airport special systems.

Orascom Construction has extensive experience in the airport sector. The Group has executed similar work for the majority of military and civilian airports in Egypt as well as King Abdulaziz International Airport in Saudi Arabia and Al Dhafra Air Base in the United Arab Emirates. In addition, this project underscores Orascom Construction’s strategy to pursue quality projects outside of Egypt in sectors across the Group’s core competencies.

About Orascom Construction Limited
Orascom Construction is a leading global engineering and construction contractor primarily focused on infrastructure, industrial and high-end commercial projects in the Middle East, North Africa, the United States, and the Pacific Rim. OC has consistently ranked among the world’s top contractors and is ranked number 32 on ENR’s 2017 Top 250 International Contractors list. The Group also develops and invests in infrastructure opportunities, owns 50% of BESIX Group, and holds a construction materials and property management portfolio.

Source: www.oracom.com

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Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

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Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.