WITH the attendance of Egypt's Prime Minister Ibrahim Mehleb, Saudi Construction Products Holding Company (CPC) signed a memorandum of understanding (MOU) with the newly-launched Ayadi Company for Development and Investment to build five industrial cities for SMEs at a cost of $500 million. The agreement comes under the Egyptian government's support toward SMEs in Egypt's private sector. The MOU was signed during Egypt Economic Development Conference held recently in Sharm El Sheikh by Eng. Mu'taz Sawwaf, Vice Chairman of Construction Products Company (CPC) and Majdi Saleh, Chairman of Ayadi, in presence of Ashraf Ghazal, CEO of Ayadi, Riad Kiwan, CPC International Chief Operating Officer, Joe Kawkabani, General Manager of CPC – Egypt for Industrial Development Mohamed Elyafi and Abdulqader Azhari. Sawwaf said "the company's investment in private SMEs industrial zones is an important step toward the implementation of the company's strategy in this regard aimed at international expansion." CPC provides construction materials through its owns industrial parks in Saudi Arabia, Qatar, UAE, Syria, Egypt and more than 50 factories for precast, glass and aluminum, steel, ready mix concrete, electric cables, wood and gypsum works, marble and granite, adhesives, construction equipment rental, finishing, steel structures, transportation, electromechanical, renewable energy, and logistic support for the building industry. – SG
