Eng. Ahmed El Assar - Chairman of the Arab Contractors Company, announced that the company has signed an exclusive commercial agency agreement with Chengdu HLF Diamond Bit Co., Ltd., a Chinese company specializing in the manufacture of oil and gas drill bits. Under the agreement, the Arab Contractors will represent and market the company’s products within the Arab Republic of Egypt. The agreement covers Polycrystalline Diamond Compact (PDC) drill bits, well-expanding tools, and rock sampling bits. HLF manufactures these tools to American Petroleum Institute (API) specifications and international quality (ISO) certifications, drawing on more than 25 years of experience. The agreement was signed by Dr. Eng. Ahmed El Adalany - Board Member of the Arab Contractors Company, and Mr. Cheng Xingfa - General Manager of the Chinese company. The signing ceremony was attended by Eng. Heba Abu El Ella -Vice Chairman, and Eng. Ahmad Zainalabdeen - Head of Strategic Advisory and Business Intelligence Department, on behalf of Arab Contractors Company. Also present on behalf of HLF Company were Eng. Shady Sharaf - President for Business Development, Mr. Alex XIE - Director of Overseas Business Development, and Mr. Nick Cheng - Business Development Manager. Following the signing, Eng. Ahmed El Assar - Chairman of the Arab Contractors Company stated that the agreement represents a strategic step for the company to enter the oil and gas services and supplies sector, diversifying its activities beyond contracting work. He explained that Arab Contractors will leverage its extensive experience since 1955, geographical presence, and its logistical and technical capabilities to serve petroleum companies operating in Egypt with highly efficient drilling equipment that reduces drilling costs. Both companies seek to build a long-term partnership, which will include exploring opportunities for local manufacturing in the future to serve the Egyptian market and regional markets. See less