Mayar Holding sees “big opportunities” in Egypt

INVESTMENT WATCH- KSA’s Mayar Holding sees “big opportunities” in Egypt: Saudi Arabian elevator and escalator manufacturer Mayar Holding is eyeing investment opportunities in Egypt, said its CEO Abdulmajed Alshaikh. Egypt offers “a very big and promising” investment opportunity, Alshaikh told Zawya on the sidelines of the Big 5 construction exhibit in Dubai. He has been encouraged to expand into Egypt after the country’s decision last year to float its currency as part of a wider economic reform program. Alshaikh did not name any specific investments nor the size of the potential Egypt expansion. He added that Mayar is also looking at Iraq, as the company angles to mitigate the risks of operating exclusively in the GCC.