Aramex in talks to build logistics parks in Egypt

OTMT, an Egyptian telecommunications company, reportedly said it plans to build five logistics parks with Aramex worth $127.7 million over five years.
Aramex, Egypt, Logisitcs, NEWS

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Aramex, the Dubai-listed courier company, has confirmed it is in talks with Egypt-based Orascom Telecom Media and Technology (OTMT) to build logistics areas in Egypt, though it has not yet signed an agreement to build the parks.

OTMT, an Egyptian telecommunications company, reportedly said it plans to build five logistics parks with Aramex worth $127.7 million over five years.

In August, Aramex reported a 5.5% rise in second quarter net profit to $44.6m from $42.3m a year earlier, while revenue fell 3.9% to $1.09bn, partly due to the falling price of oil and currency fluctuations negatively impacting its freight business.

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