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Aramex recently confirmed that it is already in advanced talks with Orascom Telecom Media and Technology (OTMT), in order to build logistics areas in Egypt. Aramex is a Dubai based company involved in transportation, logistics and courier services and OTMT is an Egypt based telecommunications company.
OTMT is keenly interested in building five logistics parks with Aramex worth $127.7 million in coming five years.
OTMT is a holding company that has investments in companies with operations mainly in Egypt, North Korea, Lebanon, Pakistan and other North African and Middle-Eastern countries. The activities of OTMT are mainly divided into its GSM, Media and Technology, and Cable businesses, having recently expanded its lines of operations into the new fields of Energy, Transport & Logistics, and Telecom infrastructure. The GSM activities include mobile telecommunications operations in Egypt, Lebanon and North Korea. The Cable business focuses on the management of cable networks. The new field of Energy includes its operations in the power projects in Egypt.
Last month, Aramex reported a rise of 5.5% in Q2 net profit, i.e. $44.6m, which is $2.3m more as compared to last year which was $42.3m.
Aramex is also a leading company which is growing at every step. Last year it acquired and expanded its operations in Africa and Australia. Aramex gives tough competition to companies, which are renowned for their transportation services like FedEx and DHL.