Egyptian billionaire Nassef Sawiris is preparing to direct up to US$50 billion of capital over the next decade to invest in infrastructure opportunities in the US, as he moves to consolidate his publicly listed holding companies in Abu Dhabi.
The capital will be channeled – along with partners and investors – to invest in US infrastructure opportunities and finance them directly or indirectly over the next 10 years through a combination of equity and credit.
OCI Global and Orascom Construction announced a potential merger on Monday that “would create a scalable infrastructure and investment platform based in Abu Dhabi, with global reach,” according to a stock exchange disclosure.
According to Forbes, this merger combines Orascom’s $14 billion in backlog and global project expertise with OCI’s proprietary investment platform and disciplined capital allocation.
In statements to the Financial Times, Sawiris said he wants to focus on the next phase of his business, citing infrastructure as the sector with the greatest investment potential.
Nassef Sawiris’ net worth is estimated at $8.8 billion as of September 22, according to Forbes.
Orascom established its presence in the United States in 2012 through the acquisition of its subsidiary, Weitz, which has since delivered projects including data centers, airport terminals, and university housing.
Orascom implements infrastructure, industrial, and commercial projects across the Middle East, Africa, and the United States.
It also develops and invests in concessions, owns a 50 percent stake in the BESIX Group, and operates a diversified portfolio of building materials, facilities management, and equipment services.
Edited translation from Al-Masry Al-Youm
