Egypt’s wealthiest individual, Nassef Sawiris, is preparing to make a major leap into the United States infrastructure sector, with plans to invest up to US$50 billion in projects across the country. At the same time, he is reshaping his corporate architecture by consolidating his publicly traded holding companies in Abu Dhabi, signalling both strategic growth and simplification of his global business footprint.
Strategic Consolidation in Abu Dhabi
Sawiris has embarked on merging OCI Global, his Dutch‐listed chemicals and fertilisers group, with Orascom Construction, the original family construction business. The objective is to combine resources, expertise, and capital under a single entity that will be listed in Abu Dhabi. The consolidation comes after OCI disposed of over US$11.6 billion in assets in recent years.
He has also redomiciled parts of his operations to Abu Dhabi and Italy, departing from the UK in response to tax reform and regulatory changes affecting non-domiciled individuals.
Focus on US Infrastructure
Sawiris sees the US infrastructure market as offering exceptional opportunity. He plans to deploy both his own capital and that of partners in sectors such as data centres, airport terminals, university housing, and other large-scale construction projects. His construction heritage—via Orascom—gives him hands-on experience in project execution, which he believes gives him an edge over private equity firms that may lack that operational depth.
He emphasised that companies with strong engineering, construction and project-management capabilities are better suited for extracting real value than entities that rely mostly on asset analysis detached from on-the-ground execution.
Why This Move Matters
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Capital availability: OCI’s balance sheet includes over US$1 billion in cash and proceeds from previous asset sales, giving Sawiris the financial firepower to underwrite large infrastructure deals.
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Return on history: The combined operations of OCI and Orascom have delivered a strong internal rate of return—some reports cite ~39% since Orascom’s 1999 listing—and over US$22 billion in dividends to shareholders.
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Shifting private equity narrative: Sawiris has expressed skepticism about the modern private equity model, suggesting that its best days might be behind, particularly when it comes to delivering consistent exit returns. This infrastructure pivot reflects those concerns.
Challenges and Key Considerations
While the prospects are large, executing infrastructure projects in the US will require navigating regulatory approvals, permitting, local stakeholder agreements, and often long timeframes. Competition is also intense—many global and domestic firms are vying for infrastructure investments, especially in sectors like data centres and sustainable infrastructure. There is also risk associated with political/regulatory changes, cost inflation, supply chain constraints, and labour availability.
Moreover, the success of the merged Abu Dhabi-listed entity will depend on how effectively Sawiris can integrate the businesses of OCI and Orascom—ensuring operational synergies, maintaining financial discipline, and achieving the scale needed to deliver projects profitably.
Why US Infrastructure Investment Is Sawiris’s Key Bet
Nassef Sawiris’s decision to invest in US infrastructure investment reflects a shift in his strategic priorities, one that leans on his core strengths in construction and project delivery more than financial engineering alone. By consolidating his companies in Abu Dhabi and freeing up capital via asset sales, Sawiris is positioning himself to be a serious contender in sectors like data centres, transport hubs, and public infrastructure—areas expected to see major policy and spending tailwinds in the US in the coming years.
Outlook
If executed well, this move could redefine Sawiris’s global footprint, elevating his profile in major infrastructure markets outside his traditional base. For the US, it means another large source of private capital targeting infrastructure, potentially accelerating development in sectors lagging investment. Observers will be watching closely to see which projects Sawiris commits to first, how local partnerships are formed, and how the merged company is governed and financed.
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