Egyptian billionaire Nassef Sawiris, widely regarded as the richest Arab in the world, is prepared to invest up to $50 billion in US infrastructure projects, according to the Financial Times and other outlets. As part of a business restructuring, Sawiris will merge his chemical company, OCI Global, with the family construction holding, Orascom Construction. The new entity will be registered in Abu Dhabi, with investments focused mainly on developing data centers and other infrastructure assets in the United States.
Sawiris stated that the next stage of the business will focus on locations that present the most promising opportunities. The capital will come both from his own resources and from partners. Orascom already boasts US experience through its subsidiary, Weitz, which has successfully delivered several major projects.
With a Forbes-estimated net worth of about $9 billion, Sawiris recently relocated from the UK to Abu Dhabi and Italy in response to changes in tax policy. Notably, his plans involve not just investment but a form of support for American infrastructure, which he clearly sees as a highly promising arena for large-scale capital with solid returns.
In short, this Egyptian tycoon is not just offering financial aid to the US, he is pledging it on a grand scale. With such backers, the future of American infrastructure looks increasingly bright.
