Looking for foreign investors to buy Egyptian Railway Equipment Co SEMAF

The Egyptian holding company for material industries is currently searching for foreign investors to buy the Egyptian Railway Equipment Co. (SEMAF) that will be put for sale in the second half of the current year.

Wagih Mashraki, the head of the privatization sector in the holding company, told ArabicNews.com that the sale of the company to an Egyptian investor would be very difficult because there is no investor who specializes in this field, adding that the one who is going to buy SEMAF, should have experience in managing the company, continuing production and development.

Mashraki also said there are preliminary offers from Germany, Spain, Japan, Italy, Canada, and France to buy this Egyptian company, which only works in the field of railway equipment.