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UralVagonZavod of Russia negotiates with Egypt to nationalise military production sites 12805154.
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Defence & Security News - Egypt / Russia
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| UralVagonZavod of Russia negotiates with Egypt to nationalise military production sites. | |||
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Russian Defense Company UralVagonZavod (UVZ) negotiated with the Egyptian government on nationalising some Russian military production sites in Egypt, CEO Oleg Sienko said. He also negotiated entering into partnerships with Egyptian companies or foreign companies working in Egypt, whether in the field of assembling war machinery or spare parts.
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 UralVagonZavod booth during defense exhibition in South Africa |
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The Russian-Egyptian Business Council organised a conference this week to open up fields for Russian companies to work in the Egyptian market and vice versa.
More than 300 representatives of Russian companies were present; mostly working in the fields of military industries, the automotive industry, medicine, road paving machines, the railway, andcompanies specialised in the construction of new cities. “We seek through negotiations with the Egyptian Ministry of Defence to modernise Russian weapons and military mechanisms present in Egypt since the 1960s, provided by the Soviet Union at that time,”Sienko told Daily News Egypt. UVZ works in manufacturing military vehicles, road paving machines, as well as oil and gas exploration equipment. Sienko also said that he suggested supplying Egypt with new battleship products, adding: “We came to confirm our ability to manufacture the best vehicles in the military defence system.” He further mentioned that the Russian ArmsPromotion Authority organises campaigns for the export of Russian military products to many countries around the world, including Egypt. UVZ aims to establish a military equipment factory in Egypt. Sienko estimated the company’s future investments in Egypt at hundreds of millions of dollars. |
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