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Country-Plan Projects and Tenders |
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8704 Subject |
150 مليون دولار رأس مجال شركة جديدة بأستثمارات مصرية عربية لمشروعات جديدة واعدة وايضا لشراء شركات الخصخصة Cairo witnessing the birth of a giant Egyptian/ UAE/ Saudi business alliance capitalized at $ 150 million. |
| Date Published | Wednesday, June 15, 2005 |
| Source Name | Al Alam Al Yom |
| Location Name | Cairo |
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Description |
Cairo has witnessed recently the birth of a giant Egyptian/ UAE/ Saudi business alliance identified as Oasis Egypt & capitalized at $ 150 million. Alliance groups Orascom Telecom of Egypt, Maged Al Futaim Group of the UAE & Olayan Group of Saudi Arabia. It intends to invest in companies offered for privatization also in companies involved with textile, food, agro industries, also in real estate development projects in the country. On his side Orascom Telecom Chairman assured that activities of the alliance are far away from the communication sector & that the alliance will be run by an Egyptian management team. Meanwhile media reports have quoted a press release of, Maged Al Futaim Group indicating that it has reached an (initial) agreement with the Egyptian Government to invest up to L.E. 2.5 billion in a so called City Center Almaza project to occupy 150,000 M2 land on Cairo/ Suez Desert Road. Project is scheduled for completion by early 2008. Project involves a huge commercial & recreational complex. N.B. Worth indicating is that Maged Al Futaim Group owns already two Carrefour outlets in Cairo & Alexandria with plans to pump up to L.E. 300 million to extend the Cairo outlet.. |
| Sectors Section | Beneficiary Sectors - Construction Projects Integrated works - Economy Economy - Consultancy Engineering Consultancy |
