CAIRO - 21 February 2024: Arab Organization for Industrialization (AOI) signed a memorandum of understanding (MoU) with an Egyptian-Saudi consortium for targeted exports valued at approximately $1 billion.
The Egyptian-Saudi consortium includes Aluminium Products Company (ALUPCO), Octa - Member of Dunes Capital Group (DCG), and City Edge Developments, according to a press statement from the AOI on Tuesday.
The memorandum of understanding relates to the logistical supply for real estate development projects in the Kingdom of Saudi Arabia, which the consortium will implement in the Kingdom and elsewhere.
Areas of cooperation include the supply of materials and local manufacturing for the real estate development projects in the Kingdom of Saudi Arabia by leveraging the advanced manufacturing capabilities of the Arab Organization for Industrialization's factories and companies, according to Chairman of the Board of Directors of the Arab Organization for Industrialization, Mokhtar Abdel Latif.
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