ArabFinance: Orascom Construction (ORAS) has funded, built and fitted a new Emergency Reception Unit for the Obstetrics and Gynecology Department at Kasr El Eini Hospital in Egypt, according to the company's May 21st disclosure filed to the Egyptian Exchange.
Fast-track construction was completed in 3 months and under continuous audit and follow-up by Orascom Construction engineers and workers to ensure delivery of this critical project in record time to benefit the thousands of Egyptians in need of this service.
The new 170-sqm emergency reception was constructed and fitted with all medical equipment in a larger location capable of serving at least 100-120 patients per day and in accordance with the highest international standards.
The project includes a wide reception for patients with the required furnishing and utilities coupled with medical sections and equipment such as examination spaces equipped to monitor the patient's vital signs and more specialized examinations involving Cardiotocograms (CTGs). In addition, there is a separate room for ultrasound examination, and administrative rooms and offices for doctors, nurses and staff. The whole area is adequately ventilated with concealed air conditioner units.
The company posted a consolidated net profit reached $24.9 million (EGP 393.83 million) in Q1 2020, a 26% decline from $33.7 million (EGP 533.02 million) achieved in Q1 2019.
Nevertheless, the company incurred a standalone net loss of $2 million (EGP 31.63 million) in Q1, against a profit of $1.8 million (EGP 28.47 million) in Q1 2019.
Orascom Construction PLC, formerly known as Orascom Construction Ltd, is a UAE-based engineering and construction contractor. The company is primarily focused on infrastructure, industrial, and high-end commercial projects in US, the Middle East, Africa, and Central Asia for public and private clients.
*At press time, the exchange rate is $1= EGP 15.82
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