Kuwait Projects Company (Kipco) said on Thursday it planned to enter into a "strategic partnership" with Japan's Orix Corporation 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.-Reuters