AOI in negotiations with Emirati investors to establish three new factories

Abu Dhabi [UAE], February 16 (ANI/WAM): Major General Engineer Mukhtar Abdel Latif, Chairman of the Arab Organisation for Industrialisation (AOI), revealed that the organisation is currently in negotiations with Emirati investors to establish three new factories specialising in both defense and civilian industries.

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In a statement to Emirates News Agency (WAM), Abdel Latif said that the Cairo-based AOI, founded in 1975 with the participation of four Arab countries -- Egypt, UAE, Saudi Arabia, and Qatar -- aims at building a strong Arab defense industrial base.

Today, AOI consists of 14 companies and factories, including seven entities specialising in defense industries. (ANI/WAM)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)