News Details

An EGP 500mn Aluminum Factory to be built


A consortium of Egypt’s Octa International and Saudi Olayan Group’s Aluminum Products Company (ALUPCO) signed a MoU with the National Organization for Military Production to build an EGP 500mn aluminum factory. Per the MoU, Olayan will put up the full investment cost and finance the raw materials and operating equipment, as well as take responsibility for the factory’s construction. Octa is an arm of the Kasrawy family’s Dunes Capital Group. It says it will source the raw materials and develop market and distribute the products. The military-affiliated authority will provide the labor and land for the factory, and contribute to its management, operation and maintenance. (Enterprise)

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