LE 600 million Saudi Egyptian investment for pipes and pumps manufacturing plants in Suez

Cairo, October 26, 2003 - The Egyptian Minister of Petroleum Eng. Sameh Fahmy declared that it has been agreed with Saudi on establishing two new factories for manufacturing pipes and pumps with an Egyptian Saudi investment of LE 600 million.

The two factories are to be established in Suez governorate and will generate 1000 jobs. The new plants will contribute in saving hard currency spent in importing pipes and pumps.