Intercontinental Aerospace Science and Technology (01725) announced that on May 23, 2024, the company and, among others, the Egyptian Space Agency (EgSA) entered into a non-legally binding strategic cooperation agreement on strategic cooperation with EgSA in, among others, satellite manufacturing and testing, satellite launch, education and training.
Subject to the conclusion of a formal agreement, the areas of cooperation between the contracting parties include but are not limited tocrashbandicoot4timetobeat:(a) The company and EgSA will cooperate to develop a 6U cubic satellite for Egypt to serve important applications such as Earth observation in Egypt. (b) The company will use its space facilities and technical capabilities in China Hong Kong and the Middle East to provide technical research and development, training and education services to EgSA, and continue to assist in improving Egypt's local satellite manufacturing capabilities. (c) The contracting parties will jointly organize international seminars, expert meetings or forums in areas of common interest. (d) Any such agreement between the parties to the strategic cooperation agreementcrashbandicoot4timetobeatAreas of cooperation.
The company has been planning a potential dual listing in the Middle East to expand the Group's influence and fund-raising capabilities in the Middle East market and consolidate the Group's leading position in the region's aerospace market. The company expects that the cooperation proposed under the strategic cooperation agreement will further strengthen cooperation between the company and other market participants in the aerospace field.
