Esmat: We seek to meet the local market’s needs of iron pipes and tubes, especially those used in the petroleum sector
We are keen to enhance cooperation with the Saudi side… and to localize industry and transfer modern technology
Develop constructive cooperation with the private sector to achieve integration and economic development
The Saudi Commercial Attaché: We are keen to pump more investments into Egypt… and to establish integrated industries
Engineer Mahmoud Esmat, Minister of Public Business Sector, confirmed that the ministry seeks to localize many industries locally and transfer modern technology, to meet the needs of the local market, reduce the import bill and increase exports.
During his meeting with a delegation from ArcelorMittal Al-Jubail Company, one of the companies to which the Saudi Public Investment Fund contributes, the leading manufacturer of iron pipes and tubes, in the presence of Zayed Al-Asmari, the commercial attaché at the Embassy of the Kingdom of Saudi Arabia in Egypt, Eng. Cooperation with the Saudi side in light of the strong and distinguished relations and fraternal ties between the two brotherly countries and peoples.
He added, according to the ministry’s statement today, that the ministry is working seriously to develop constructive cooperation with the private sector in light of its importance as a locomotive for economic growth through increasing investments and transferring knowledge and expertise to serve the economic development process.
For his part, Zayed Al-Asmari affirmed the Saudi side’s keenness to pump more investments into Egypt, establish complementary industries between the two brotherly countries, and make use of the available resources and capabilities.
During the meeting, they discussed ways of cooperation and possible partnership through the Nasr Pipes Company, which is affiliated with the Holding Company for Metallurgical Industries, one of the companies of the Ministry of Public Business Sector, and to meet the market’s needs of pipes and tubes of various diameters, especially in national projects.
ArcelorMittal Jubail officials gave a presentation about the company, its factories, production capacity, manufacturing stages, and its most prominent products of pipes that are used in the oil and gas industry.