Cairo – Mubasher: The board of directors of El Nasr for Manufacturing Agricultural Crops approved the property valuation report, assessing the market value of the land of Sohag factory at EGP 9,245.6 per square metre (sqm).
The board approved the offer from a company that aims to purchase the 64,000-sqm land for EGP 650 million at a value of EGP 10,156.25 per sqm, according to bourse disclosure on Wednesday.
The company also decided to terminate the service of 14 workers and employees at Sohag factory after paying end-of-service gratuity.
From April 2019 to the end of last March, the company incurred net losses of EGP 8.56 million, up from EGP 6.44 million a year earlier.
