Remember meForgot password?
    Log in with Twitter

article imageBillionaire says he found islands he want to buy for refugees

By Owen Weldon     Sep 19, 2015 in World
Naguib Sawiris, a billionaire from Egypt, wants to buy an island for refugees, and he is getting closer to making dream a reality.
Sawiris said he has found two privately owned Greek islands that are ideal for the project. He said he has corresponded with the islands' owners and told them that he wanted to negotiate with them.
The billionaire's idea was initially thought of as ridiculous by some people, but Sawiris said that he has received a lot of interest from potential donors.
There are a few things Sawiris has in mind, such as making a small port or marina, as well as employing people to build their own schools, homes, a hotel, university and even a hospital. Sawiris added that he could employ between 100,000 and 200,000 refugees.
Sawiris, the chief executive of telecom group Orascom TMT, said he is hoping to get more donations for the project. He said he has plans to set up a joint stock company with $100 million as initial capital. According to Sawiris, anyone who decides to invest will get a share of the company, which means they will become a partner in the island and project. He said the money put in wouldn't be completely lost because the asset will remain. The asset he was referring would be the island.
As of now, the Greek government and the Italian government have not responded to Sawiris. The billionaire is seeking permission from Greece and Italy to be willing to take care of the administrative process of permitting entrance of refugees to the island. .
Sawiris also had some words for critics. He said that he would tell them to shut the f**k up if they cannot come up with a better solution.
More about Refugees, Island, Refugee camp
Latest News
Top News