Back to the complete issue
Sunday, 4 November 2018

EKH releases additional info on EGP 3 bn Egypt wood product investment

INVESTMENT WATCH- EKH releases additional info on EGP 3 bn wood investment: Egypt Kuwait Holding (EKH) issued a clarification on Thursday on its recently announced plans to invest in wood production. The company is investing EGP 2 bn in a compressed wood plant in Beni Suef, which will be built over two phases, according to a bourse statement by EKH (pdf). 50% of the plant would be self-financed, while the other half would be funded through loans, the note read. EKH is planning to invest EGP 1 bn to grow feedstock for the plant and is seeking land on which to grow trees. Local press reports citing statements attributed to Chairman Moataz El Alfy at a press conference implied that the project was either moved from Beni Suef to Minya, or that a separate facility was being developed, prompting the company to issue Thursday’s statements.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.