Egypt to pump US$317m into state holding firm

Egypt to pump US$317m into state holding firm
Published: 21 June 2010

Egypt expects to pump EGP1.8bn next fiscal year into state-run Chemical Industries Holding Company, which controls several listed firms, the state news agency, MENA, said on Friday.

The investments include EGP695m for the country‘s cigarette monopoly Eastern Company and RGP246m in National Cement Company, the report said, citing Investment Minister Mahmoud Mohieldin.

National Cement, one of the largest remaining cement producers with a public sector majority, produces and trades in cement, clinker and other construction materials.