Arab Finance: The Sovereign Fund of Egypt (TSFE) and Indorama Corporation signed a memorandum of understanding (MoU) to study investment opportunities in a group of fields in Egypt, the cabinet stated on July 25th.
Both parties discussed investment opportunities in mining, fertilizers, phosphate extraction, medical fibers, and other industries.
They also agreed to study the company’s opportunities to participate in a range of investment areas in Egypt within the framework of the State Ownership Policy Document, as well as the Egyptian government’s endeavor to expand partnerships with the private sector.
In another context, Prime Minister Mostafa Madbouly met with Chairman of Indorama Sri Prakash Lohia and his accompanying delegation to discuss the company's expansion plans in Egypt.
Madbouly expressed the government’s support for the company’s expansion plans in the Egyptian market, noting that the government would provide all forms of support to encourage existing Indian investments while attracting new ones.
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