Mac Optic has EGP 300 mn worth of education investments planned
Greek industrial investor Mac Optic will invest EGP 300 mn to establish five new international schools and one technical institute in Egypt, CEO Ahmed Radwan told Al Mal without specifying a timeline. The schools will be located in Cairo, Alexandria, Mansoura, Port Said, and Minya while the technical institute will be based in Cairo and will specialize in engineering and economics, he said. The facilities will all be managed by French non-profit Mission Laïque Française (MLF), which will offer students accredited courses similar to those provided by the French education system.
Mac is investing in the six establishments through a special investment vehicle it set up under its new Egypt-focused investment arm, Mac Holding. The company last year established Mac Holding with USD 100 mn in capital to invest in education, financial services, media, and healthcare ventures in Egypt.
Mac who? Mac Optic Investment, established in 1995, started out as a supplier of military equipment but has since expanded to several other industries including cement, food commodities, medical supplies, and refining. The company is active in nine countries in the Middle East and Europe, as well as the US.