OCI, Arab Contractors In JV To Bid On Egypt's First Nuclear Power Plant

 Construction services contractor Orascom Construction Industries, or OCI, Group (ORSD.L: News ) Monday reported forming a joint venture with Arab Contractors with the intention of bidding on Egypt's first nuclear power plant. The companies are also attempting to rope in nuclear technology providers into the bidding consortium. Egypt plans turning to nuclear power to meet rising electricity demands. The proposed plant will be set up in Al Dabaa, and bidding is expected to happen in February. Both OCI and Arab Contractors have a significant presence in Egypt, but with other nuclear projects expected in the region, the companies look to expanding their "geographical footprint".