Egypt to invest $317m into state holding company

Egypt's investment minister Mahmoud Mohieldin has said the government plans to pump EGP1.8bn ($317m) next fiscal year into state-run Chemical Industries Holding, which controls several listed firms, Reuters has reported. The investments include EGP695m for the country's cigarette monopoly Eastern and EGP246m in National Cement, he said. The fiscal year of Egypt ends on June 30.

Posted on Monday, June 21-2010

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