Today, Tuesday, Halwani Brothers Company announced the signing of a non-binding memorandum of understanding by the Halwani Brothers Company – Egypt, which is affiliated with it, with Akwat Food Industries Company, the sister company of Al-Baik Food Systems Company, and the owner of the knowledge and technical rights in the manufacture of the famous Al-Baik products, which is a chain of fast food restaurants. Well-known, for the purpose of studying the possibility of cooperating together in the field of food manufacturing of “Al Baik” products and supplying them to those who are licensed to operate Al Baik restaurants in Egypt.
And it said in a statement on “Tadawul Saudi”, that this was after “Aqwat” company completed the examination and evaluation work that included technical and logistical studies for the factories of the Halwani Brothers Company – Egypt, and agreed on the necessary conditions for that.
She added that the expected investments from the cooperation are in the range of one billion Egyptian pounds.
She explained that the term of the memorandum is one year, subject to renewal.
Aqwat Food Industries Company is a Saudi closed joint stock company, which owns the knowledge and technical rights to manufacture the famous Al-Baik products for distribution to those licensed to operate Al-Baik restaurants by Al-Baik Food Systems Company.
The signing of the memorandum came on the occasion of the visit of Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense, to the Republic of Egypt.
