Russia’s UVZ looks into plans to assemble tanks in Egypt: Russian machine and defense manufacturing company Uralvagonzavod (UVZ) reportedly has plans to assemble its T-90S third generation battle tanks in Egypt, according to Russia’s Sputnik Arabic portal, which cites the company’s annual report 2017. The report apparently says that the company will help an undisclosed customer establish a company to assemble the tanks in Egypt. Reports had emerged in the local press citing then-CEO Oleg Sienko back in 2015 that Uralvagonzavod had successfully concluded negotiations with the Egyptian government on developing Russian military hardware production facilities. “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 had told Daily News Egypt back then.There was even talk of partnerships with the private sector to develop defense machinery and spare parts.
More from Enterprise
The National Bank of Egypt and Banque Misr just hiked rates on CDs — moves that could see the EGP gain against the USD
NBE and BM both hiked rates on CDs by 125…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Swvl is not dropping off of Nasdaq just yet, as company turns to the black in 2025
The company turned a profit last year, allowing it to…
IBF & Company doubles down on logistics with Techno Metal acquisition
Plus: Lucky lands USD 23 mn in Series B round,…