Egypt's Minister of Investment and Foreign Trade Mohamed Farid witnessed the signing of a Memorandum of Understanding on Wednesday between the Mansour Group, a major Egyptian conglomerate, and China's Tianneng Battery Group Co Ltd. The agreement covers cooperation and investment opportunities in battery manufacturing and energy storage solutions in Egypt.
The MoU commits the two parties to studying prospects for establishing battery production and energy storage facilities in the country. The Mansour Group operates across several economic sectors including automotive, retail and financial services.
Tianneng Battery is one of China's leading manufacturers of power storage and battery solutions, with operations across Asia and Europe.
