OIH considers investment in EVs charging in Morocco
Updated 10/23/2022 8:52:00 AM
Arab Finance: Orascom Investment Holding (OIH) is ready to make investments of up to $100 million in Morocco when the right opportunity emerges, OIH’s CEO Naguib Sawiris revealed to Asharq Business on October 21st.
On the sidelines of his participation in the Choiseul Africa Business Forum in Casablanca, Sawiris added that the company could enter the Moroccan market in the coming few years by investing in a non-competitive field.
The company would not invest in a project that requires over $100 million in investment as a first phase, he said.
Moreover, he pointed out that the company studies investing in technology, mainly electric vehicles (EV) charging, noting that Morocco is preparing for the construction of an EV batteries plant.
Sawiris depicted investing in the EVS charging stations in Africa as “the future”, referring to the negotiations held with several African governments in this field.
In the same vein, Sawiris told CNBC in an interview that OIH is considering the establishment of a tourism project in Sudan with investments starting from $50 million.
OIH, formerly Orascom Telecom Media and Technology Holding, is an Egypt-based holding company engaged in the telecommunications sector.
It mainly engages in global systems for mobile communications, media and technology, cable, energy, financial, real estate, and entertainment businesses.
