Egypt settles investment dispute with France’s Vicat

Daily News Egypt
1 Min Read

Egypt’s Minister of International Cooperation Rania Al-Mashat has signed an agreement with Guy Sidos, the Chairperson and CEO of French cement manufacturer Vicat, to settle some investment disputes between the two sides.

The signing ceremony comes during Sidos’ visit to Egypt with the MEDEF International French-Egyptian Business Council. The event was witnessed by Egyptian Prime Minister Mostafa Madbouly and Minister of Justice Omar Marwan.

Long-term investor in Egypt since 2003 and main shareholder of Sinai Cement Company, Vicat has been committed since then to enhance the Company profitability in a tough but promising market.

According to the Company, it values its close relationship with Egypt, which will remain the key to future success.

Sidos said: “We believe that better days are coming for Egypt as it awaits a promising future, and we want to be part of it.”

He added: “We want to put Sinai Cement in a better position within the Egyptian market, as the cement industry is and will remain a major strategic sector of the country’s economy.”


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