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AOI to cooperate with 2 state-owned companies to penetrate African market

Sunday 03 March 2019 06:25 AM

Arab Organization for Industrialization (AOI)
Arab Organization for Industrialization (AOI)

By Essam Emaira:
The Arab Organization for Industrialization (AOI) has reached an agreement with both Chemical Industries Holding Company (CIHC) and El Nasr Export and Import Co. to promote the former’s products such as electronic and electrical devices, solar panels, and other equipment in the African market.
The move is part of an expansion plan to penetrate the African market and to exploit Egypt’s presidency of the African Union to promote economic cooperation and increase the Egyptian firms’ resources. Egypt is devising a developmental plan for the African continent.
The head of AOI Abdel Monem El-Taras told Al-Mal newspaper that there are contracts to build solar plants in Uganda, Eretria and Rwanda to be announced soon, adding that there is coordination with relevant ministries.