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Sunday, 18 September 2016

Indorama looking to invest USD 650 mn in Egypt

Indonesian investment company Indorama Corporation is looking to invest USD 650 mn over the next three years in Egypt, Al Shorouk reported, citing an Investment Ministry statement. Indorama’s managing director met with the Mohamed Khodeir, GAFI’s chairman to discuss the company’s return to Egypt. A court had renationalised Indorama-owned Shebin Textiles in 2011, and the company was awarded USD 50 mn in compensation.

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