Attended by Saudi ambassador and Minister of Military Production..KSA & Egypt sign a memorandum of understanding between two private sector companies
Ashraf AboArafe
A memorandum of understanding was signed in Cairo between the two companies “Al Wupco”, which is affiliated with the Saudi “Olayan” group and the Egyptian “Octa International”, in the presence of His Excellency the Egyptian Minister of State for Military Production, Mohamed Ahmed Morsi, and the Ambassador of the Custodian of the Two Holy Mosques to Egypt, Osama bin Ahmed Noqli.
The agreement aims to launch a cooperation between the Alupco Group Alliance and Octa International to establish a factory for forming and manufacturing aluminum products and applications for the construction sectors and other high-quality products.
The Egyptian Minister of State for Military Production said that the signing comes in light of the historical relations and bonds of interdependence and brotherhood between Egypt and the Kingdom of Saudi Arabia (KSA) and in light of the rapprochement between the leaderships of the two brotherly countries, expressing his aspiration to continue fruitful cooperation with the Saudi side in the various fields of manufacturing and opening new horizons for cooperation with various Saudi companies.
For his part, the Ambassador of the Custodian of the Two Holy Mosques to Egypt stressed that this partnership is a building block of the Saudi-Egyptian relations, and one of the agreements aimed at strengthening the partnership between the private sector in the two countries.
He explained that the agreements and memoranda of cooperation between the Kingdom and Egypt include all sectors in their various fields, which enhances cooperation and coordination to serve the historical bilateral relations and the common interest between the two brotherly countries.
Ambassador Noqli pointed out that the signing of the partnership between the two sides aims not only to enhance cooperation and integration between the industrial sector between them as much as it aims to localize the aluminum industry and launch from it to global markets.
