Arab Finance: Orascom Investment Holding (OIH) is seeking to build four hotels in the fields of tourism and entertainment in Egypt with up to $300 million in investments, CEO of Orascom Investment Holding (OIH) Naguib Sawiris stated during the Fourth Annual Hapi Conference, according to an emailed statement on October 5th.
OIH has focused investments, mainly in the fields of the new and renewable energy sector, Sawiris added.
Sawiris noted that his company is considering entering the field of electric vehicles (EVs) in Africa.
It is worth noting that OIH reported a consolidated profit attributable to the parent company of EGP 94.887 million in H1 2022, compared to a consolidated loss of EGP 93.064 million in H1 2021.
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.