Samih Sawiris, Chairman of Orascom Development Holding (ODH), is to meet with Macky Sall, Senegal’s president to activate the agreement of the new housing community project with total investments worth $ 300 million. Samih Sawiris said that Senegal has recently allocated a piece of land with total area of three million meter square to implement the new project upon.
On the other hand, the Chairman commented on the importance of Sharm El-shiekh’s Africa 2016 forum to boost the investments opportunities in the African countries.
Orascom Group is a leading engineering, procurement, and construction (EPC) contractor and fertilizer producer based in Cairo, Egypt, and active in more than 25 countries. The company was Egypt’s first multinational corporation. ODH is one of the region’s largest corporations.
Orascom Group was established in Egypt and owned by Onsi Sawiris. OC owned and operated cement plants in Egypt, Algeria, Turkey, Pakistan, northern Iraq, North Korea and Spain, which had a combined annual production capacity of 21 million tonnes. In December 2007, OC announced the divestment of its cement group, Orascom Building Materials Holding (“OBMH”), the holding company for its cement group assets, to the French Lafarge. The sale closed in January 2008.
OC’s Construction Group ranks among the world’s top global contractors and undertakes large industrial, infrastructure and select commercial projects for public and private customers principally in Europe, the Middle East and North Africa.