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NorK's new Egyptian money source
From East Asia Intel, subscription.Intelligence sources have identified a new outlet used by North Koreas communist government to obtain much-needed hard currency. Pyongyang recently sold a 50-percent stake in Sangwon Cement to Cairo-based Orascom Construction Industries for $115 million. Sangwon is owned by the state-run Pyongyang Myongdang Trading Corp. The deal will give North Korea a steady supply of hard currency as well as business cover for intelligence and other illicit overseas activities. And we all know how the Egyptian Government works hard to stop this nefarious activity. Orascom will employ North Korean workers at several locations in the Middle East. The company is a dominant construction and cement supplier with offices in Syria and Algeria. It is currently working in northern Iraq. North Korea has ties to Hizbullah and to Syrias government Posted by: Alaska Paul 2007-07-28 |
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