Orascom Construction was established in 1950 by the late billionaire Onsi Sawiris. In 2023, the company signed new awards worth $5.8 billion, of which $3.8 billion were in Egypt and the U.A.E. In November 2023, the company signed two contracts with Egypt’s National Authority for Tunnels to build two major transportation projects in Egypt. In September 2023, the Orascom Construction consortium with Colas Rail signed a contract with the National Authority for Tunnels to build a new regional metro system in Alexandria for $1.4 billion. The group is dual-listed on Nasdaq Dubai and the Egyptian Exchange.