Hot SourceEgyptian billionaire Nassef Sawiris is preparing a $50 billion investment drive in United States infrastructure, combining his construction and chemicals interests and shifting his corporate base to Abu Dhabi.
The businessman, ranked among Egypt’s richest, is merging OCI Global, a major fertiliser and chemicals producer, with Orascom Construction, the family-founded engineering group.
The merged company will seek a primary listing on the Abu Dhabi Securities Exchange and operate from the Abu Dhabi Global Market, giving it a larger capital base and easier access to Gulf investors.
Sawiris, who recently relocated to Abu Dhabi and Italy, has moved his tax residency away from the UK, where changes to non-dom rules have made the environment less favourable for high-net-worth investors.
The restructured group plans to channel as much as $50 billion into US infrastructure over the next decade, targeting sectors such as transport networks, energy facilities and large-scale data centres.
Orascom already has a foothold in the United States through its subsidiary Weitz, which has built airport terminals, university housing and commercial developments.
Company statements say the merger will combine Orascom’s project-execution expertise with OCI’s financial and industrial reach, creating “a global infrastructure and investment platform” able to compete for multi-billion-dollar projects.
Sawiris, whose family business empire spans construction, fertilisers and sports, has not given a precise timetable for the first wave of US investments, but advisers say preparations are already under way.
The move underscores a broader trend of Middle Eastern markets—especially the UAE—attracting major international listings as investors look beyond traditional European and UK centres.
The post Egypt’s Nassef Sawiris plots $50 billion US infrastructure push after Abu Dhabi merger appeared first on The Herald ghana.
