Halwani Bros plans $53m investment to manufacture Albaik fast food products in Egypt 

RIYADH: The Egyptian unit of Saudi-listed Halwani Bros. Co. is in talks to potentially manufacture the famous Saudi food brand, Albaik, in the North African country with an investment of 1 billion Egyptian pounds ($53 million). 

The Egyptian subsidiary has signed a non-binding agreement with Aquat Food Industries Co., a sister company of Albaik Food Systems Co. which owns the knowledge and technical rights to manufacture the Albaik products, according to a bourse filing.