Financial services firm Morgan Stanley (MS) and Orascom Construction Industries (OCI) have signed an agreement in principle to form a 50/50 joint venture (JV) to develop and invest in infrastructure-related assets across the Middle East and Africa regions.
Nassef Sawiris, CEO and chairman of OCI, said: “MS is a proven leader in global infrastructure investing. This proposed joint venture is positioned to capitalize on MS Infrastructure's investing expertise and its global reach as well as our local and regional awareness of infrastructure needs.”
Sadek Wahba, global head of MS Infrastructure, said: “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.”
Will the companies benefit with the JV?
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