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Orascom Construction secures green light for a $2.6 billion Qurayyah IPP expansion in Saudi Arabia, reinforcing its regional energy footprint with a 3GW boost.
Throughout 2023, Orascom Construction expanded its footprint by securing quality, internationally funded projects in Egypt and diversifying its presence in the UAE.
Orascom Construction, an engineering and construction contractor with a primary focus on infrastructure, is led by Egypt’s richest family — the Sawiris family.
The family’s combined wealth includes the fortunes of Naguib, Samih, and Nassef Sawiris.
Through OS Private Trust Company, the billionaire Sawiris family owns 51.8 percent of the Egypt-based contractor.
It is unclear how much of the 59.22 percent stake held by Orascom Financial Holding, a firm led by the billionaire Sawiris family, was acquired during the transaction.