prominent Egyptian billionaire,Naguib Sawiris is set to visit Morocco early next month to sign an agreement with Minister of Industry and Trade, Ryad Mezzour, regarding his first investment project in the country.
This will involve exploring various investment opportunities available in Morocco.
Sources informed Hespress that Morocco’s Ministry of Industry and Trade has spent the past few days reviewing and approving the project, which focuses on developing innovative technological solutions to convert light transportation to electric power.
Through this agreement, Sawiris aims to enter the Moroccan market and expand the activities of Blue EV, a subsidiary of Orascom Investment Holding, which specializes in creating electric conversion solutions for light transport.
The project aligns with the company’s vision of building a sustainable, integrated system for transforming urban mobility through smart, eco-friendly, and cost-efficient transport solutions.
The company recently celebrated launching the project in Egypt, with Soheir Shakashq, head of the committee for national and international brand development in the Rabat-Salé-Kénitra region, attending the event. He is also coordinating the project in Morocco.
The initiative will require substantial investments in lithium battery swap stations, supported by a digital platform and mobile applications, offering electric light vehicles that could reduce transportation costs by up to 30% compared to traditional fuel-powered vehicles.
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