Orascom Construction was established more than 73 years ago by late billionaire Onsi Sawiris, the father of the Arab world’s current richest billionaire Nassef Sawiris. In 2022, the company signed new awards worth $3.6 billion, of which $2.3 billion were in the Middle East and $1.3 billion were in the U.S. In May 2022, the company, in a consortium with Siemens Mobility and The Arab Contractors, signed the second phase of Egypt’s first high-speed rail system to expand the network to 2,000 kilometers, with a share of $1.2 billion.