Cairo – Mubasher: MEDAF Investments announced that it has acquired a 26% stake in Al-Thuraya Oil Refining Company.
Thuraya Oil Refining owns a facility for refining and recycling used oils and applies advanced technology that meets international standards and requirements, Yasser Agiba, a member of the board of directors of MEDAF Investments, said in a statement on Sunday.
MEDAF, an Egyptian holding investment company in which Kuwait’s Al-Raya Holding Co. holds a major stake, mulls expanding its footprint in the Egyptian, Arab, African, and European markets, MEDAF’s chairman Adnan Al-Salem noted.
