Back to the complete issue
Monday, 6 May 2019

Qalaa Holdings expects revenues to exceed EGP 90 bn next year

Qalaa Holdings expects to record revenues north of EGP 90 bn (USD 5.25 bn) next year, Chairman Ahmed Heikal told Reuters. Some EGP 50-55 bn will come from the investment company’s Egyptian Refining Company, which is expected to produce 2.4 mn tonnes of diesel every year after it begins operations in 3Q2019. Heikal said last month that the refinery will begin commercial production in June before reaching full capacity by September.

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. © 2021 Enterprise Ventures LLC.