Kuwait's KIPCO says to partner with Japan's Orix
Thursday, 18 October 2012
KUWAIT: Kuwait Projects Co (KIPCO) said on Thursday it planned to enter into a "strategic partnership" with Japan's Orix Corp and that the companies were mulling a joint project in Algeria.
KIPCO, Kuwait's largest investment company, said it would sign a memorandum of understanding with Orix, a leasing and financial services group.
The two companies will study the possibility of a joint venture to set up a leasing company in Algeria, a statement on Kuwait's bourse said.
No financial details were provided in the statement. (Reuters)