Cairo – Mubasher: Orascom Telecom Media and Technology is planning for setting up two agricultural projects with a value of $60 million in Côte d'Ivoire in 2018, OTMT CEO Naguib Sawiris told Bloomberg.
OTMT intends to implement similar projects in Mali, Burkina Faso, Sudan and South Sudan, alongside other mining projects in Niger and Mauritania, the Egyptian tycoon said.
Sawiris added that his company owns liquidity worth of $250 million and has plans to borrow an equivalent amount.
He highlighted that OTMT was mulling over establishing real estate and entertainment projects in Egypt.
In early December, the Financial Times reported that telecoms magnate Sawiris was seeking to launch a new investment subsidiary of “La Mancha Group” to acquire gold mining assets across the world.
La Mancha Group is owned by Sawiris and has stakes in Canada's Endeavour Mining and Australian Evolution Mining.
Egyptian billionaire is also reportedly considering investing in Brazil’s ailing telecom operator Oi.
In late 2016, Sawiris had reportedly made an offer to invest, along with other bondholders, $1.2 billion in Oi; however, in October, he said he was unlikely to carry on with such an investment.
