Orascom Construction PLC (NASDAQ Dubai: OC; EGX: ORAS) announced that it has formed an exclusive partnership with Denmark-based COBOD International to bring the latest 3D Printing Construction (“3DPC”) technology for the first time to Egypt.
The partnership, owned 76% by Orascom Construction and 24% by COBOD, will play a leading role in the technological advancement of the construction sector in Egypt. Not only is this new technology more cost and time efficient compared to traditional methods of construction, but it is also more environmentally sustainable as it reduces material consumption, construction waste, and carbon footprint.
By leveraging Orascom Construction and COBOD’s leading positions in their respective fields, the partnership will mainly focus on three business lines: project execution, equipment sales, and operation and maintenance (O&M). The partnership will also continue to explore various opportunities in the Egyptian market for utilizing the 3DPC technology in printing entire buildings.
Osama Bishai, CEO of Orascom Construction PLC, commented, “We are excited to bring to Egypt a new technology with the potential to unlock significant value particularly in the building sector. We have always led the industry in incorporating the latest technology across our work in Egypt and are pleased to partner with an industry leader like COBOD to help advance our sector in a sustainable manner.”
COBOD’s printers have already been applied in multiple countries around the world, and are responsible for the first one-, two- and three-story buildings in Europe, the first two-story buildings in the US, Canada and India and have printed the first schools and houses in Africa. COBOD’s printers are even printing windturbine towers and other industrial applications.
Henrik Lund-Nielsen, Founder & General of COBOD, commented, “We are very proud to partner up with Orascom in Egypt. Orascom is a beacon in the Egyptian construction market and based on Orascom’s construction knowhow and our 3D printing technology, I believe we have a winning combination. With a current backlog in the Egyptian market of 3 mill. houses and 500.000 new houses to be built in the coming 5 years to keep up with the growing population, there is great potential for our partnership and we intent to make the most of it.”
Find out more about COBOD at cobod.com.
For more information about Orascom Construction, please visit orascom.com.