Sawiris’ OTMT plans investing in Egypt’s food, agricultural industries sector

Egypt’s Orascom Telecom Media and Technology Holding company (OTMT) -owned by tycoon Naguib Sawiris – is currently studying injecting direct investments in food and agricultural industries sector within the upcoming period.

Speaking to Amwal Al Ghad Wednesday, Deputy CEO Tamer El Mahdi stated that this sector is expected to grow and attract new investments within the coming period as pursuant to the ongoing growth in consumption rates of the local market.

The official added that OTMT is investing in another three sectors beside communications and information technology.

OTMT is investing in banking investment sector since it has recently finanlised the acquisition of Beltone Financial, El Mahdi clarified.

He noted that OTMT is also investing in energy sector through establishing solar power plant in Aswan governorate with total investments of US$100 million. The plant is set to operate with the capacity of 50MW.

OTMT is further investing in logistics services sector since it is set to establish around five new logistics centres in different governorates with investments estimated at one billion Egyptian pounds, the official pointed out.