Multinational holding company to be established

Egyptian businessman Mohammed Farid Khamis decided to establish this month an Egyptian - Libyan - United Arab Emirates - Iranian holding company to establish industrial projects on a distance of 10 million square meters in the Suez Gulf. The expected capital of the company amounts to 500 million pounds, and it will work in manufacturing carpets and textiles in the first stage, including a factory for fabrics and textiles in which the Egyptian - Iranian company for textiles will take part.