Egypt, Saudi Arabia sign MoU in field of aluminum industries

CAIRO - 26 May 2022:Olayan Saudi Holding Company’s subsidiary, Alupco, signed a memorandum of understanding (MoU), on Wednesday, with the Egyptian OCTA International.

 

The agreement aims to launch a cooperation between the Alupco Group and Octa International to establish a factory for forming and manufacturing aluminum products and applications for the construction sectors and other high-quality products, according to a statement.

 

The signing ceremony was witnessed by 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 Naqli.

 

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 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.

 

He pointed out that the signing of the partnership between the two sides aims not only to enhance cooperation and integration between the industrial sector as much as it aims to localize the aluminum industry and launch from it to global markets.