Asec Cement in Minya university deal
Cairo, April 2, 2013
Asec Cement, a core portfolio firm of leading MEA investment company Citadel Capital, said its two subsidiaries have signed a MoU with Minya University to help prepare students with the skills they need to seek meaningful employment in their fields.
The initiative comes as part of its community development and educational support programme in Minya.
Asec Minya and Asec Ready Mix signed the MoU in the presence of Minya governor Dr Mostafa Eissa, Minya university president, Dr. Mohammed Sherif and Asec Cement chairman and CEO Giorgio Bodo.
The MoU, the first of its kind in the governorate of Minya, aims to promote the exchange of scientific and technical knowledge, in addition to improving student skills by offering training programs to students enrolled in the chemistry and geology departments at the University’s Faculty of Science.
The memorandum also stipulates that both Asec units will sponsor training workshops and seminars to discuss issues relevant to the construction materials sector. The agreement will allow the two companies to benefit from the vast knowledge and experience of the university’s staff.
The deal comes a month after Asec Minya contributed EGP2 million to the UN World Food Program to support the school meals project in Minya.
At the signing ceremony Eissa praised the agreement, stressing the importance of co-operation between the private sector and institutions of higher education, as a necessary means of honing and developing the technical skills of students.
"The community development initiatives of this nature are a good way to capture synergies between commercial organizations and educational institutions," he stated.
Welcoming the participation of Asec Cement, Sherif said they are true partners in the university's research and development programs.“We praise the company’s commitment towards the betterment of our student body,” he noted.
“Despite the challenges arising from these tumultuous times, the private sector remains committed to the development of Upper Egypt,” said Bodo.
“We are honoured and proud to say that our team is up to meeting the challenges in service of this noble goal,” he added.-TradeArabia News Service