Morgan Stanley (MS), a leading global financial services firm, and Orascom Construction Industries (OCI), a preeminent regional and international construction company, today announce their agreement in principle to form a 50/50 joint venture to develop and invest in infrastructure-related assets across the Middle East and Africa regions.
Nassef Sawiris, Chief Executive Officer and Chairman of Orascom Construction Industries, said, “Morgan Stanley is a proven leader in global infrastructure investing. This proposed joint venture is positioned to capitalize on Morgan Stanley Infrastructure’s investing expertise and its global reach as well as our local and regional awareness of infrastructure needs. Bringing together both entities will result in significant investing and execution capabilities, which we believe are unparalleled in the region.”
Sadek Wahba, Global head of Morgan Stanley Infrastructure, added, “The coming decade will require higher investment rates in infrastructure to sustain economic growth in the Middle East and Africa. Our proposed joint venture brings regional knowledge, operational expertise and global reach to capitalize on the region’s economic expansion. We are looking forward to partnering with Orascom Construction Industries, a leading infrastructure developer in the Middle East with significant operational experience in construction and management of infrastructure assets.”