October 18, 2012 / 11:50 AM / 5 years ago

Kuwait's KIPCO says to partner with Japan's Orix

KUWAIT, Oct 18 (Reuters) - 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. (Reporting by Sylvia Westall; Editing by Dinesh Nair)

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