Egypt's National Authority for Military Production and El-Sewedy Electric have signed a memorandum of understanding to establish a plant to manufacture electric panels and lighting poles, as well as extend and install power grids.
The plant is set to be established in one of the companies affiliated with the country's military production ministry as part of its plan to be integrated with different local and international companies.
The signing ceremony was attended by Minister of State for Military Production Mohamed Ahmed Morsy and the Chairman of El-Sewedy Mohamed Zaki El-Sewedy, the ministry said in a statement on Tuesday.
El-Sewedy Electric, a giant Egyptian electrical company, said the military companies have "great" industrial, technological, and human capabilities, which paves the way to achieve "fruitful" cooperation.
Military Production Ministry Spokesperson Mohamed Eid said the ministry is keen to develop the manufacturing, technological, and technical capabilities of its subsidiaries and units in a way that achieves added value to the Egyptian economy.