Suez Industrial Development Company (SIDC), a majority-owned subsidiary of Orascom Construction, has signed an agreement with Al Ahly Capital Holding (ACH), the investment arm of the National Bank of Egypt, to jointly develop a 2.2 million square meter industrial park in Abu Rawash (Giza), Egypt.
SIDC will be the lead developer of the industrial park that will be home to companies working in logistics, light industries, and MSMEs. SIDC will be leveraging its expertise as Egypt’s first private industrial developer of a 10 million square meter industrial zone in Sokhna, Egypt to provide a fully integrated offering. SIDC will also own 25% of the project company.
ALC Alieldean Weshahy & Partners advised Al Ahly Capital in this transaction with a team led by senior partner Amr Namek (pictured right) who heads the firm’s M&A practice.
Helmy Hamza & Partners, Baker McKenzie Cairo has advised Suez Industrial Development Company (SIDC) on this transaction. The team was led by partner Mohamed Barakat (pictured left) and senior associate Sameh Dahroug with support from associates Moataz El Sherbini and Mohamed Gamaleldin.