AQUAT signs MOU with Halawani Bros – Egypt

AQUAT Food Industries has signed a non-binding memorandum of understanding with Halwani Brothers Company – Egypt. The memorandum comes for a period of one year, subject to renewal, indicating that the financial impact is expected investments of about SR 200 million, which aims to transfer the knowledge and experience available to AQUAT Food Industries Company to Halawani Brothers Company – Egypt through an operating license for the factories that will be built to manufacture the products of Al-Baik Food Systems Company in the Arab Republic of Egypt’s market.

The signing of this memorandum came with the aim of registering the desire of the first party to carry out the necessary assessment and examination to deny the knowledge, experiences and factories of the second party in the Arab Republic of Egypt, and to record the desire of the two parties to enter into talks to try to find the most appropriate possible ways to cooperate together in the field of food manufacturing, and the potential exploitation of knowledge Technical owned by the first party commercially and industrially in the Arab Republic of Egypt

The signing of this memorandum coincides with the visit of HRH Mohammed bin Salman to Egypt as part of the joint cooperation between the two countries and transfer it to broader horizons to live up to the strength of the historical and strategic relationship between them by achieving integration between the opportunities available through the vision of the Kingdom of Saudi Arabia 2030 and the vision of the Arab Republic of Egypt 2030.