Arabia Investments, Development, Financial Investment Holding Co. announced that its 90%-owned subsidiary Cairo Development and Cars Manufacturing – Peugeot signed an agreement worth EGP 103 million with the Armed Forces.

Under the agreement, the company will supply Peugeot cars to the Army over a period till mid-2014.

The company announced earlier in January it established 51%-owned Kahromica Egypt in Saudi Arabia with SAR 500,000 capital.

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