The Arab Organisation for Industrialisation (AOI) and Hungarian lighting company Tungsram have signed a Memorandum of Understanding (MoU) to jointly manufacture street lighting and other sustainable solutions in Egypt
The agreement has been signed by the Mohamed Ahmed Morsi, managing director of AOI, and Tungsram group?s president and CEO Joerg Bauer.
According to the memorandum, AOI finds it reasonable to enter into multi-level business cooperation with Tungsram in several projects through the foundation of a joint venture.
The important project is the production of outdoor street lighting, but the cooperation expands to the field of smart solutions and agritech.
AOI is an advanced industrial entity in Egypt, the responsibility of which is to deliver the most developed technologies to the Egyptian market. AOI has been searching for reliable strategic partners to co-operate within certain fields and industries.
Joeg Bauer said the joint venture helps to produce sustainable solutions that will directly benefit the citizens of Egypt and beyond.
