Egypt to pump $317m into state holding firm
Cairo, June 19, 2010
Egypt expects to pump EGP1.8 billion ($317 million) next fiscal year into state-run Chemical Industries Holding Company, which controls several listed firms, the state news agency Mena said.
The investments include EGP695 million for the country's cigarette monopoly Eastern Company and EGP246 million in National Cement Company, the report said, citing Investment Minister Mahmoud Mohieldin.
Egypt's fiscal year ends on June 30.
National Cement, one of the largest remaining cement producers with a public sector majority, produces and trades in cement, clinker and other construction materials. – Reuters