Cairo - Aluminum Products Company (ALUPCO), an affiliate with Olayan Group, and Egyptian OCTA International have signed a memorandum of understanding in Cairo in the presence of Egyptian Minister of State for Military Production Mohamed Ahmed Morsi and Saudi Ambassador to Egypt Osama Nugali.

The deal aims at launching cooperation between ALUPCO and OCTA International to establish a factory for forming and manufacturing Aluminum products and application for the construction sector and other high-quality products.

Morsi said that signing the memorandum of understanding is in light of the historical relations and connection and brotherhood bonds between Egypt and the Kingdom of Saudi Arabia and in light of rapprochement between the leaderships of the two brotherly countries, expressing his aspiration to continue fruitful cooperation with the Saudi side in various manufacturing fields and open new aspects for cooperation with various Saudi companies.

For his part, Nugali stressed that this partnership is a pillar of the Saudi-Egyptian relations and one of the agreements that seeks to enhance partnership between the two countries’ private sectors.