Morgan Stanley and Orascom in infrastructure deal

Bank and Egyptian construction company form investment joint venture.

Morgan Stanley and Orascom Construction Industries, an Egyptian construction company, have formed a joint venture to invest in infrastructure assets in the Middle East and Africa.

The two firms will split the venture 50-50. In a statement, Sadek Wahba, global head of Morgan Stanley Infrastructure, said: “The coming decade will require higher investment rates in infrastructure to sustain economic growth in the Middle East and Africa. Our proposed joint venture brings regional knowledge, operational expertise and global reach to capitalise on the region’s economic expansion.”

Morgan Stanley Infrastructure has US$4bn in equity under management.