Electro Cable Egypt inks EGP 450m financing contract

Cairo – Mubasher: Electro Cable Egypt has signed an EGP 450 million financing contract with the Housing and Development Bank (HD Bank).

The company seeks to finance the increasing demand for its contracting products and services, which are in line with the “Hayat Karima” (A Decent Life) initiative and Egypt's plan to develop electricity infrastructure, according to a bourse filing on Sunday.

It is noteworthy to mention that during the first nine months (9M) of 2021, the company's consolidated profits jumped to EGP 147.26 million, compared to EGP 104.38 million in the year-ago period.

Mubasher Contribution Time: 20-Feb-2022 10:07 (GMT)
Mubasher Last Update Time: 20-Feb-2022 10:07 (GMT)