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FINANCIAL NEWS
Aramex, Egypt OTMT in talks to build USD127.7m logistic areas
13 Sep 2015
(MENAFN) Dubai-listed courier company Aramex said that it is in talks with Egypt-based Orascom Telecom Media and Technology (OTMT) to build logistics areas in Egypt.
Aramex has not yet signed an agreement to build the parks, the company said in response to media reports. Reuters reported that Aramex is in talks to build five logistics parks in Egypt.
OTMT, an Egyptian telecommunications company, reportedly said this week it plans to build five logistics parks with Aramex worth around USD127.7 million over five years.
In February, Aramex told Gulf News it expects to raise a total of USD150 million to help fund the construction of a warehouse Dubai and as many as three acquisitions.
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