The guarantees form part of a broader framework agreement first unveiled in November, under which Egypt selected Hartree to supply around 80 LNG cargoes valued at roughly $4 billion.
The Prime Minister chaired a meeting to follow up on efforts to support and enhance economic cooperation between Egypt and the United States.
According to Mohamed Shimi, Minister of Public Business Sector, the new company will produce a variety of products, including ampoules, sterile injections, sterile ophthalmic preparations, over-the-counter (OTC) medications, and dietary supplements.
His remarks came during a meeting with Suzanne Clark, President of the U.S. Chamber of Commerce, and John Christmann, Chairman of the U.S.-Egypt Business Council and CEO of Apache Corporation.
Prime Minister, Mostafa Madbouly, announced that the two governments have reached the final stage of discussions on a customs cooperation agreement, which is expected to enter into force soon.
