Saudi company to invest in Egyptian production lines

A Saudi Arabian company is expected to invest EGP500m (US$28.37m) in three Egyptian production lines, according to Ahmed Abdel Razek, head of the General Authority for Industrial Development.

Mr Razek stated that the company has requested 200,000m in the industrial zone of Alexandria's Borg-El-Arab, and the first line will commence in 18 months once the land is allocated. A joint cooperation protocol is expected to be signed between the two parties to exchange expertise and information on industrial activities.