Egyptian Billionaire to invest $100 Million in Morocco

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Naguib Sawiris, CEO of Egypt-primarily based totally Orascom Investment Holding, expressed his hobby is investing $100 million in Morocco have to the possibility arises.

Speaking at the side-lines of the African Business Forum held in Casablanca, the Egyptian billionaire stated that his holding “may be coming into the Moroccan market” withinside the coming years, in keeping it converging information reports.

Speaking at the sidelines of the African Business Forum held in Casablanca, the Egyptian billionaire stated that his holding “may be coming into the Moroccan market” withinside the coming years, in keeping with converging information reports.

Sawiris found out that his keeping is asking into making an investment in Morocco’s era sector, particularly sports regarding electric-powered automobile charging stations, a report from Egyptian media explains.

Noting the possibilities in Morocco withinside the generation enterprise sector, the billionaire stated that “Morocco is getting ready to construct a manufacturing facility for batteries for electric powered vehicles.”

“If the involved authority provides to this funding possibility the proper to set up charging stations for those cars, we’re very inquisitive about coming into this project,” he added.

“We have a corporation that invests in opportunity sun energy, and Morocco has an essential possibility in this field,” Sawiris highlighted. “The identical applies to organising meals industries projects, together with the sugar manufacturing unit we very own and run in Egypt, further to the very lively tourism and motel sector.”

Soukaina Sghir

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