Saudi - Egyptian company of 300million dollar

A group of the Egyptian businessmen signed yesterday an agreement with the Saudi company "Sabic" to establish a joint company between the 2 parts withcapital $300 million, $50 million of which will be paid in first the stage to establish metal and steel factory in addition to marketing "Sabic" products in Egypt.

The press statement issued after signing the agreement said that "Sabic" is considered the biggest producer of petrochemicals in the world in addition to its productions of fertilizers whose capital is (10) billion Saudi Riyadh while its market value reach (40) billion dollar.