Talks include injecting investments for the acquisition of land owned by the company in a group of areas in Egypt, sources add.
AD Ports develops and manages Ain Sokhna port with investments of up to $1.2 bn.
The deal paves the way for the integration of the next stage of brokerage standards in Egypt and for the provision of an exceptional customer experience.
The company is planning to launch a series of real estate projects in East and West Cairo.
The city includes a free zone and a used car sale area, the agency complex area, traffic offices, car showrooms, alongside other service facilities.
The first issuance of the fund received EGP 360 mn worth of subscriptions, out of a targeted value of EGP 500 mn, from Egyptian and multinational financial institutions.
Majid Al Futtaim also unveils a plan to expand its soft discount store, Supeco, and open more Carrefour Gourmet stores in the Egyptian market.
These facilities, collectively, are set to produce up to 7.6 mn tons of green ammonia and 2.7 mn tons of hydrogen a year when fully operated.
The two agreements were signed on the sidelines of the 27th United Nations Climate Change Conference (COP27), which is held from 6 to 18 November in Sharm El-Sheikh.
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