CAIRO: Egypt s monopoly cigarette maker, Eastern Company, is considering supplying tobacco and manufacturing expertise to Sudanese firms in a step to expand in African markets, Egyptian media reported on Thursday.
Eastern Company s share will range between 25 and 40 percent of net profits earned from the agreement, the daily Sharouk newspaper quoted Nabil Abdel Aziz, Eastern s chairman, as saying.
Eastern could not immediately be reached for comment.
The agreement will help the company penetrate African markets, Sharouk quoted Abdel Aziz as saying.
Gulf and other Arab countries have been investing in a range of projects in Sudan, Africa s biggest country by area, mostly in agriculture.
The company said in February it was negotiating with the Ethiopian government to buy 10-20 hectares of land for growing tobacco.
Eastern posted an unaudited net income of LE 405.1 million for the period from July to December, a 0.12 percent rise on the same period in 2008, when the firm made LE 404.6 million. -Reuters