Arabian Business Rich List 2010
Thu 16 Dec 2010 10:41 AM
The Sawiris family
28

The Sawiris family

Industry: Technology & Construction

Company: Orascom

Country: Egypt

Wealth: 3.55 Billion

Onsi Sawiris always said that the greatest investment he’d
ever made was in his sons, and in 2010, that was proved to be an accurate
prediction as Naguib Sawiris, his eldest son, lead the Egyptian conglomerate
back from a difficult 2009.

Orascom Telecom, the group’s telecommunications arm, has
expanded into one of the largest mobile phone operators in the world, with a
presence in twelve countries, including Algeria, Pakistan, Canada and North
Korea.

The year also saw the group continue to wage its difficult
battle with the Algerian government over its lucrative Djezzy unit, which
hampered Sawiris’ efforts to sell assets to Russia’s VimpelCom - a deal that
will create the world’s fifth largest mobile phone operator, should it go
through.

Orascom Construction saw its third quarter profits rise to
$147.6m, while it is expected to be involved in Qatar’s preparations for the
2022 World Cup.