MINSK, 24 January (BelTA) – The Belarusian mechanical engineering company Amkodor will sell over $400,000 worth of vehicles and machines to Egypt, the company's press service told BelTA after Amkodor's top managers met with Chairman of the Board of the Egyptian Company for Agriculture & Rural Development (ECARD) Mostafa Hadhoud.
Amkodor and ECARD signed a protocol on reconciling the steps to expand mutually beneficial cooperation. A contract was also signed on supplying over $400,000 worth of Amkodor vehicles and machines to ECARD in 2020.
Amkodor started cooperation with the Egyptian company in late 2017. “They have steady sources of finance while we are interested in a strong and financially-reliable partner,” Amkodor Director for Marketing and Promotion Leonid Pinchuk noted.
In 2019 Amkodor and ECARD decided to set up an assembly enterprise in Egypt. Amkodor acts as a technology partner and provides technical support, documentation, and training. Factory 200 (Abu Zaabal Tank Repair Factory) is the manufacturing partner. The factory is part of the National Organization for Military Production of Egypt. ECARD Company acts as a dealership and represents Amkodor's interests in Egypt.
Amkodor has already sent technical documents for manufacturing loader buckets to Egypt. The vehicles will be fitted with loader buckets of Egyptian make. It will be a joint product, Leonid Pinchuk explained.
Amkodor's representative also noted that the Belarusian company does not intend to simply sell assembly kits. It intends to increase the manufacturing localization rate past 45%. It will allow selling jointly manufactured products via Egypt to other African countries. “We will be able to trade virtually in half of Africa without paying customs duties. This is why we don't consider Egypt as a local market but as a gateway to the African market and the Middle East one,” Leonid Pinchuk said.
Founded in 1927, the industrial group Amkodor is one of the leading manufacturers of special-purpose vehicles and machines in Belarus and the CIS states. Its enterprises make over 5,000 sophisticated special-purpose vehicles every year.