Naguib Sawiris of Orascom Telecom Media and Technology Holding (OTMT) has approved construction of other new companies as well as the purchase of capital company shares in an attempt to provide services to the public in several fields.
In a statement sent on Sunday to the stock market administration, OTMT said the board had accepted to construct, own and operate mass telecommunications networks, energy production, transportations means and logistic services as well as other services related to them.
Sawiris, the chairman, would sign all contracts and take necessary measures over the capitals. He was also granted right to authorize or issue proxies to anyone else in all or some of his authorities.
Edited translation from Al-Masry Al-Youm