Cairo – Egypt’s OCTA International Company has inked a memorandum of understanding (MoU) with Aluminum Products Company (ALUPCO), a subsidiary of the Saudi Olayan Group.
Upon the agreement, OCTA will team up with ALUPCO to set up a factory to manufacture aluminium products that will be used in the construction sector, State Information Services (SIS) reported.
Mohamed Morsi, the Egyptian Minister of Military Production, noted that the National Organization for Military Production will provide the labour force and the land plot needed to carry out the project.
Morsi also stated that the agreement came in line with the strong ties between Egypt and Saudi Arabia.
Meanwhile, Osama Nugali, the Saudi Ambassador to Egypt, pointed out that the deal aims to boost partnership between the two countries’ private sectors.
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