Abu El-Makariam Egyptian group buys Tunisian factory

The Abu El-Makariam Egyptian group for investment bought a Tunisian textile factory at a cost of $15 million.

The head of the group, Mosaad Abu El-Makeriam, told ArabicNews.com that the factory has an agreement to export to Europe, so it is a good manufacturer for Arabian industries, adding that for the first time Tunisia has agreed upon importing the Egyptian cookwear. Tunisia consumes $14 million dollars annually.

Tunisian and Egyptian businessmen have agreed to establish several mutual projects in manufacturing ceramics, producing olive oil and establishing tourist projects.