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Egypt’s Suez Canal authority signed a memorandum of understanding (MoU) with Qatari milk producer Baladna, it said on Tuesday.
The MoU is worth $1.5 billion and will help them collaborate in areas of food security, according to the statement.
The signing ceremony was held in the presence of Egyptian Prime Minister Mostafa Madbouly in the New Administrative Capital.
For his part, Baladna’s CEO, Malcolm Jordan, said that the company is looking forward to collaborate with the Suez Canal Authority.
