VOL. XLIV

No. 07

12-February-2001

KUWAIT/EGYPT

Kuwait And Egypt To Build $50MnGas Pipeline Plant Near Port Said

The Kuwait Pipe Industries and OilServices Company in mid-January signed an agreement with four Egyptian partnersto set up a $50mn plant near Port Said to manufacture pipes for natural gas.The Kuwaiti firm, together with EK Holding, a Kuwaiti-Egyptian holding companyheaded by Kuwaiti businessman Nasir al-Kharafi (see above item), will own 60%of the new project. The remaining 40% will be...