AOI, North Point sign deal to develop SEMAF
Saturday، 25 January 2020 - 01:47 PM
The Arab Organization for Industrialization (AOI) has signed an agreement with Canadian "Point North" Company specialized in technical consultations to develop the Railway Equipment Factory (SEMAF).
The deal falls within Prime Minister Moustafa Madbouli's recent visit to SEMAF, during which he agreed on taking executive steps to modernize SEMAF, along with benefiting from global expertise to contribute to the comprehensive development of the railway system and improve the service provided to citizens.
During the signing ceremony, AOI Chairman Abdel Moneim el Tarras underlined President Abdel Fattah el Sisi's directives to strengthen the local manufacturing, transfer and localization of technology in the field of railway industry.
Under the agreement, the AOI aims to enhance manufacturing capabilities and training human cadres at SEMAF factory in cooperation with Point North, Terras said.
Officials at North Point said that the agreement would help open new prospects for cooperation with the AOI to introducing modern railway systems and deepening technology and training to cater for the needs of comprehensive development projects in Egypt.
They asserted that the Egyptian market is a promising one, adding that the Egyptian market is of strategic importance for the Arab and African markets.