Egypt, Saudi Arabia Plan 10 Joint Businesses with EGP 36 bnSource: www.export-egypt.com 4/7/2016, Location: Africa |
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Ten new Saudi-Egyptian companies will be established at planned investments of EGP 36 bn, said a senior official at the joint business council.
Egyptian and Saudi investors can participate in the planned businesses, said Abdullah Ma'rei bin Mahfouz, the deputy chairman of the council on the sidelines of meetings. Jsoor is one of those companies. It has been recently established. Its capital is 3.8 billion EGP. Ten percent of the capital has been already deposited with banks, said Bin Mahfouz. Offers of 32 Saudi groups to partake in projects of Jsoor are under study, he added. A holding company for imports and exports will be set up, he said. |
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