EKH’s unit to build $112m factory

Mubasher: Egypt Kuwait Holding (EKH), listed on Boursa Kuwait and the Egyptian Exchange (EGX), on Tuesday announced that one of its subsidiaries will build a factory for pressed wood production with EGP 2 billion in investments.

The factory will be established over two phases; the first at cost of EGP 1.1 billion ($61.4 million), whereas the second will be constructed with EGP 900 million ($50.2 million) in investments, the company said in a filing to Boursa Kuwait.

The project will be set up in the Upper Egypt governorate of Beni Suef, and construction is set for completion to begin the trial operation with a capacity of up to 150,000 cubic metres in the first half of 2020, the company added.

EKH has not mentioned the name of the unit implementing the project.

Mubasher Contribution Time: 04-Sep-2018 08:44 (GMT)
Mubasher Last Update Time: 04-Sep-2018 10:29 (GMT)