The state-owned Mechanical and Chemical Industry Corporation (MKE) has reached a crucial export deal with its Ministry of Defense, which includes both the supply of munitions and the creation of production infrastructure within Egyptian soil.
According to sources of the website specialized in Middle East issues, Middle East Eye, the total amount of the agreement is estimated at 350 million dollars. Its signing took place on the sidelines of Turkish President Recep Tayyip Erdogan’s official visit to Cairo and his meeting with Egyptian President Abdel Fattah al-Sisi.
Egypt takes Tolga and Turkey builds munitions factory
In a statement issued by the Turkish Ministry of Defense, it is clarified that the agreement provides for the export to Egypt of the Tolga short-range anti-aircraft air defense system. This particular system is designed to deal with aerial threats, with an emphasis on unmanned aircraft, and the value of its sale is 130 million dollars.
At the same time, Ankara announced that MKE will proceed with the establishment of a factory for the production of 155 mm large caliber ammunition in Egypt, as well as units for the manufacture of 7.62 mm and 12.7 mm caliber ammunition. The cost of these investments is estimated at the remaining 220 million dollars of the agreement.
As the Turkish Ministry of Defense points out, for the operation of the new facilities and the further strengthening of export activities both in the Egyptian market and in the wider region, the creation of a joint company between MKE and the competent Egyptian bodies is envisaged.
