Southern Valley’s payables to RHI reach EGP 190m

Cairo - Mubasher: Reliance Heavy Industries (RHI) said that the total amount of financial claims and compensations from Southern Valley for Cement exceeded EGP 190 million.

These claims are due to Southern Valley’s lack of commitment to the agreement signed between the twi companies back in 30 April 2014.

The final ruling is expected by the end of next year, RHI in a statement to Mubasher on Thursday.

Reliance Heavy Industries also denied claims by Southern Valley for EGP 430 million.

The company couldn’t be reached for a comment.

MUBASHER Contribution Time: 31-Aug-2018 18:57 (GMT)
MUBASHER Last Update Time: 31-Aug-2018 18:57 (GMT)