Egyptian billionaire Nassef Sawiris is launching a new chapter in his global business empire, with plans to invest up to $50 billion in US infrastructure projects through a landmark merger between OCI Global and Orascom Construction PLC.
The combined company will be headquartered in Abu Dhabi, marking a strategic pivot that connects Egypt’s industrial legacy with the future of international infrastructure investment, according to his interview with the Financial Times in September.
Sawiris — Egypt’s richest man and owner of Aston Villa Football Club — is finalizing a restructuring of his Dutch-listed chemicals and fertilizer group, OCI Global, following more than $11.6 billion in asset sales over the past two years. The merger with Orascom Construction, founded in Cairo in 1950 by his late father Onsi Sawiris, represents both a return to his family’s engineering roots and a launchpad for a global infrastructure platform with Egyptian foundations.
“We want to focus the next stage of our business on the area we see the biggest opportunity, which is infrastructure,” Sawiris told the Financial Times. “Any day, these companies will be more successful than a bunch of bankers who do desktop analysis of an asset and then struggle to create the most value,” he added, emphasizing the operational advantage of firms like Vinci and Ferrovial that couple engineering depth with investment scale.
Building a global infrastructure powerhouse
As outlined in an OCI press release, the merger — referred to as the “Combination” — aims to establish a scalable global infrastructure and investment platform. The new entity will combine Orascom Construction’s $14 billion project backlog and engineering capabilities with OCI’s institutional investment expertise and financial strength.
Under the proposed structure, Orascom Construction, incorporated within the Abu Dhabi Global Market (ADGM) and primarily listed on the Abu Dhabi Securities Exchange (ADX), will serve as the acquiring entity. OCI shareholders will receive new Orascom shares, after which OCI will be liquidated and delisted from Euronext Amsterdam. The move consolidates Sawiris’s businesses under a Gulf-based financial umbrella, positioning Abu Dhabi as the central hub for his expanding global ventures.
A legacy of Egyptian industrial strength
Founded in Cairo by Onsi Sawiris, Orascom Construction evolved into one of the world’s top 30 international contractors, with a portfolio spanning Egypt, the Middle East, Africa, Europe, and the United States. Its projects include the Grand Egyptian Museum, over 30 gigawatts of power capacity, 17 million cubic meters per day of desalination and wastewater treatment, and more than 3,800 kilometers of rail and metro systems.
In the US, subsidiaries such as The Weitz Company, EPI Power, and Contrack Watts manage large-scale projects including data centers, airport terminals, and infrastructure megaprojects. These operational strengths complement OCI Global’s investment record, including the world’s first greenfield blue ammonia plant in Texas and the Iowa Fertilizer Company, the largest private investment in Iowa’s history.
Together, the two companies have achieved an internal rate of return (IRR) of around 39% since 1999 and distributed $22 billion in dividends to shareholders, according to a KPMG audit.
Abu Dhabi as a financial hub, Egypt as the base
The merged company will be anchored in Abu Dhabi, leveraging the emirate’s growing status as a global financial and investment hub, while maintaining its operational base and engineering expertise in Egypt. Orascom Construction continues to play a vital role in Egypt’s energy, transportation, and tourism megaprojects, working closely with the government to advance national initiatives aligned with Egypt Vision 2030.
The merger is expected to export Egyptian engineering talent and expertise to global markets, while channeling foreign investment and technology back into Egypt’s expanding construction sector.
A strategic shift for the Sawiris empire
Sawiris’s latest move marks the third major transformation of his career, following his €10 billion sale of Orascom Cement to Lafarge in 2007 and the global expansion of OCI into chemicals and fertilizers. By consolidating his holdings in Abu Dhabi while keeping Egypt as the operational heart of his empire, Sawiris is positioning himself among the world’s most influential industrial investors.
If approved by shareholders and regulators, the merger will enhance Egypt’s global presence in infrastructure development and further position Abu Dhabi as a nexus for industrial capital, bridging Egyptian expertise with Gulf financing and American opportunity.
