Orascom Construction Sees Strong Mideast Infrastructure Demand, CEO Says

Orascom Construction Industries, the biggest publicly traded builder, said it expects “strong demand” for infrastructure projects in the Middle East, especially after electricity blackouts in the region this month.

“We think there will be another round of power works, a major round of water projects and there will be a major round of road works,” Nassef Sawiris, chairman and chief executive officer of Orascom Construction, said by telephone today.

Orascom is still mulling opportunities for an acquisition in the fertilizer industry, he said. “We will not go after anything huge but we will look at acquisitions that are swallowable,” Sawiris said.

To contact the reporter on this story: Mahmoud Kassem in Cairo at mkassem1@bloomberg.net

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