Egyptian-Lebanese firm exports 600,000T of cement to 4 African states

The Egyptian-Lebanese company for promoting Egyptian exports in Africa provided contracts for exporting 600,000 tonnes of cement to four states in west Africa.

Vice-president, Magdy Tolba stated Wednesday that the total volume of the contracts are estimated at US$45 million and the firm is currently finishing the exporting procedures.

The company also provided contracts worth US$3 million for exporting building materials including; 60 containers of ceramic worth $1.2 million to Uganda, 200 containers of ceramic worth $4.2 million to Côte d’Ivoire, UAE, and Saudi Arabia, in addition to 250,000 tonnes of steel to Nigeria.

Tolba added that the company held an expanded meeting with Egyptian Trade Minister Tarek Qabil to showcase its business results.

The Egyptian-Lebanese firm has been formed six months ago among ‘Egypt- Lebanon to Africa’ Initiative.

During the meeting, the firm discussed its six-month plan that has been designed in cooperation with Egyptian commercial services office in Beirut, Tolba pointed out.

The business results showed that the Egyptian-Lebanese firm signed a Memorandum of Understanding (MoU) with one of Lebanese banks to provide funding facilities for Lebanese and African importers in order to import Egyptian products through the firm.

The future plan of the Egyptian-Lebanese firm includes preparing for four business missions that includ Egyptian firms working in competitive industrial sectors.

The missions would be sent to Côte d’Ivoire, Liberia, Sierra Leone, Guinea, Uganda, Kenya, Angola, Zambia, Mozambique, and Tanzania during the first half of 2017, the official clarified.