Egypt’s Raya Holding for Financial Investments signed a partnership agreement with Belarusian BELAZ Holding, specialised in manufacturing mining trucks and construction equipment, to accelerate the implementation of the roadmap signed by the two countries to promote bilateral economic cooperation.
The announcement came during the Egyptian-Belarusian Business Council’s Tuesday meeting, attended by Minister of Military Production Mohamed Al-Asar and Minister of Trade and Industry Nevine Gamea from Egypt, as well as Minister of Antimonopoly Regulation and Trade Vladimir Koltovich from Belarus.
Chairperson and Managing Director of Raya Holding Medhat Khalil said this partnership will contribute to moving forward the industrial, trade, and investment relations between the two countries.
Moreover, CEO of Raya Holding Tamer Abdelaziz said that the Egyptian market is promising for international companies, stressing that Raya supports Egypt’s vision to enhance its economic relations with foreign countries and takes this vision into action through constructing touchable investment projects which will benefit both the Egyptian and Belarusian economy equally.
BELAZ is one of the biggest international companies that manufactures mine and unloading mining trucks. The company’s headquarters is located at Zhodzina, Belarus. It produces more than 30% of trucks in 80 different countries around the world. BELAZ currently designs and manufactures a new generation of dumper trucks equipped with a comprehensive programme to monitor the technical condition of mining electric-powered equipment in addition to gas engines, not to mention its distinguished external design.