Morgan Stanley teams up with Orascom

* username: rupertbu

Morgan Stanley is teaming up with Orascom Construction Industries, an Egyptian company, to form a joint venture that will invest in infrastructure in the Middle East and Africa.

Officials declined to discuss the details of the 50/50 venture, but it is expected to be a fund with the partners looking to invest several hundred million dollars in projects across the regions. The venture will also be seeking investments from third parties.

The two groups are hoping to tap into the need for improved infrastructure throughout the Middle East and Africa. Both are regions where populations have been rapidly expanding while infrastructure, including transport systems, water and power generation, is often lacking or in a state of decay.