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Egypt Aluminium Company announced on Tuesday the signing of a consultancy contract to carry out a feasibility study for setting up a car wheel rim manufacturing line by the company.
The contract was awarded to local firm Cegman Consulting Engineering Group, the State-owned company said in a stock Exchange statement.
The bids had been invited in January this year.
In May, the company had said in a stock exchange statement that it will invest about 493 million Egyptian pounds ($31 million) next year in the project.
(1 US Dollar = 15.71 Egyptian Pounds)
(Writing by Eman Hamed; Editing by Anoop Menon)
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