ECP invests in Moroccan construction company
31 July 2009
Emerging Capital Partners (ECP) has invested $13.8 million (£8.37 million) in the Entreprise Marocaine de Travaux (EMT) and Somadiaz in Morocco.
While the former organisation is a construction company that specialises in infrastructure projects such as dams, levees and airports, the latter is an equipment leasing business.
"ECP views the construction markets across north Africa as uniquely poised for growth," said Vincent le Guennou, executive vice-president of ECP.
"We believe the strong supply and demand imbalance in the sector is a compelling reason to invest."
The investors also acquired a $13.8 million stake in Shoresal - a real estate development company in Algeria.
It marks the organisation's fifth venture in the country, where the company has also contributed to financial services, consumer goods and telecommunications sectors.
The private equity firm ECP was the first of its kind to raise more than $1.6 billion for investment in companies across the African continent.