Nassef Sawiris Egyptian entrepreneur, vice president of the Orascom conglomerate Country: Egypt

1. Nassef Sawiris Biography
2. Orascom and the Sawiris Family
3. Investments and Success
4. Orascom's Success and Future Plans

Nassef Sawiris Biography

Nassef Sawiris is an Egyptian entrepreneur and the vice-president of the conglomerate Orascom. Born in 1961 in Egypt, he received his secondary education at the German International School in Cairo. He later obtained a degree in economics from the University of Chicago, with a Bachelor of Science in Arts and Sciences.

Orascom and the Sawiris Family

Nassef Sawiris, now fifty-four years old, serves as the vice-president of the Orascom conglomerate. This massive company was founded by the Sawiris family - Onsi Sawiris and Samih Sawiris - in 1950. Onsi Sawiris opened his first cement factory in northern Egypt. In 1961, the company was nationalized and formed the Civil Company AlleNasr. From 1976 onwards, the company underwent significant changes, with its founder, Onsi Sawiris, returning to lead the enterprise. Since 1990, the company has become one of the leading cement producers in Egypt. The Sawiris family expanded their business not only within Egypt but also beyond its borders. In the mid-1990s, Orascom began investing in developing enterprises in Algeria, Turkey, Spain, and Nigeria.

Investments and Success

In 1996, with Nassef Sawiris actively involved, Orascom merged with the largest cement manufacturing holding, Holcim. This resulted in the creation of the Egyptian Cement Company, producing over 10 million tons of cement annually. The Sawiris family owns 54% of the company's shares, with Holcim owning the remaining 44%.

In 2005, with Nassef Sawiris's direct involvement, the company acquired 51% of the shares of Cementos La Parrilla in Spain, which produces over 1 million tons of cement per year. Currently, under the leadership of Onsi Sawiris, the company's acting president and chief executive officer, and Nassef Sawiris, the vice-president, Orascom continues to thrive and generate substantial profits for its owners.

Orascom's Success and Future Plans

Orascom Group is the largest cement producer in the Middle East and the primary cement exporter in the region. With over 20 facilities worldwide, the company employs more than 40,000 people. Annually, the group produces over 25 million tons of cement. Nassef and Onsi Sawiris show no signs of slowing down and are actively seeking new business partners.

According to Forbes magazine, Nassef Sawiris's net worth is estimated at $11 billion USD.