Sawiris Merges OCI and Orascom to Pave the Way for a $50 Billion Investment in America

In a bold strategic move, OCI Global and Orascom Construction have announced that they are in discussions to merge into a single entity. The goal is to create a global infrastructure investment platform based in Abu Dhabi, led by Egyptian billionaire Nassef Sawiris. This new entity plans to invest as much as $50 billion in U.S. infrastructure projects over the next decade.

The merger aims to combine the strengths of both companies: OCI Global's expertise in investments and deal-making, and Orascom Construction's strong execution capabilities, with a project backlog exceeding $14 billion. The merged entity will focus on funding and implementing strategic projects in key markets, including the U.S., the Gulf, Egypt, and Europe. These projects will encompass data centers, airports, and energy and water networks.

Massive Investment and a New Strategic Focus

According to the "Financial Times," Sawiris—Egypt's richest man—intends to partner with investment funds to finance his massive U.S. infrastructure investments. This move capitalizes on the significant boom in the U.S. infrastructure sector. Sawiris told the newspaper, "We see infrastructure as the biggest opportunity in the next phase, and that's why we are completely re-focusing our business towards this area."

Following the merger, Sawiris plans to list the new company on the Abu Dhabi Global Market (ADGM) and delist OCI from Euronext Amsterdam. The share exchange ratio for the merger will be determined after the completion of financial due diligence and valuation.

This strategic step comes after Sawiris relocated his tax residency to Abu Dhabi and Italy, following tax law changes in the UK that affected a number of wealthy residents. This merger is a culmination of the Sawiris family’s legacy in the construction and chemicals sectors, which began when Onsi Sawiris founded Orascom in the 1950s.