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Orascom Construction (OCI), Egypt’s largest listed builder, announced Monday that full-year 2008 net profit from continued operations was $719.8 million, up 230% on the year. Revenue in 2008 rose 56.2% to $3.72 billion, while EBITDA was up 151% at $878 million. Concurrent with the news, the firm signed a deal with a unit of Brazil’s Group Fertipar for the supply and import of granular urea fertilizers into Brazil; OCI currently has fertilizer operations in Egypt, Nigeria, and Algeria.
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