Cairo – Mubasher: Raya Holding for Financial Investment (Raya Holding) has signed a memorandum of understanding (MoU) with BelAZ Holding.

The agreement aims at studying cooperation opportunities between Raya and the Belarusian company, including operation, supply, maintenance, and technical support services, according to a statement to the Egyptian Exchange (EGX).

Raya Holding reported net losses of EGP 58.16 million during the nine-month period to 30 September 2019.