Saudi Arabia’s Ajlan and Bros signs $5bn worth investment partnership agreements in Egypt

Fatma Salah
1 Min Read

Ajlan Alajlan, Chairperson of Ajlan and Bros Holding Group, said Tuesday that the Group signed agreements worth about $5bn with Egyptian partners in various sectors, adding that the company will expand its partnership with the Egyptian government in the coming period.

Ajlan and Bros signed on Tuesday eight investment partnership agreements with Sami Saad Holding, Triangle Group, Magrabi Agriculture, Pharco Pharmaceuticals, Hassan Allam Holding, Arab Group for Supply Chains, and Arise Ports and Logistics to develop, finance, and operate a multi-purpose terminal inside Damietta Port.

Alajlan told Daily News Egypt that the volume of Saudi investments in Egypt reached about $53bn.

He pointed out that the volume of the group’s business in Saudi Arabia is about $15bn, noting that the company’s business volume in Egypt is estimated at about $2bn.

He indicated that the company aims to establish eight companies in Egypt in several regions, especially the logistics zone in Damietta, explaining that the company will expand in a number of sectors such as tourism, logistics, financial technology and banking.

He pointed out that the investment climate in Egypt is very encouraging, especially with the political leadership’s orientation to support the private sector in Egypt.

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