Egypt’s OCI in joint venture with Morgan Stanley-FT

CAIRO, Jan 26 (BestGrowthStock) – Egypt’s Orascom Construction
Industries (OCI) (OCIC.CA: ) will form a joint venture with Morgan
Stanley (MS.N: ) to invest in infrastructure in the Middle East
and Africa, the Financial Times reported on Tuesday.

Orascom Construction (OCICq.L: ), Egypt’s biggest listed
builder, has focused increasingly on infrastructure since Egypt
accelerated infrastructure spending under a stimulus plan last
year.

” … Our region still has a long way to go to develop world
class infrastructure and there’s a huge infrastructure spending
deficit across all areas — from roads, houses, sewage to softer
infrastructure in healthcare and education,” the Financial Times
quoted Chief Executive Nassef Sawiris as saying.

“The opportunities are immense and a partnership with Morgan
Stanley will help us meet the vast opportunities we are
confronted with on a daily basis from governments.”

OCI will announce the venture formally on Tuesday, the
investor relations manager said.

Stock Market Basics

(Writing by Alexander Dziadosz)

Egypt’s OCI in joint venture with Morgan Stanley-FT