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Thursday, 25 March 2021

EKH to invest USD 300 mn through the end of 2022

EK Holding plans to invest USD 300 mn this year and next in new and existing projects and to purchase minority stakes in its subsidiaries, according to a regulatory disclosure (pdf). The investments include USD 80 mn for its medium-density fiberboard (MDF) factory in El Sadat, USD 75 mn for its subsidiary NSCO Investments to develop new wells at its North Sinai gas concession, USD 15 mn in subsidiary Kahraba to increase its generation capacity, and a combined USD 30 mn in its subsidiary Sprea Misr to set up a new sulfuric acid production line and increase the capacity of another production line. The remaining USD 100 mn will be earmarked for minority stake acquisitions in EKH’s subsidiaries, the disclosure says, without providing further details.

 

CORRECTED ON- 25 March 2021

The MDF factory is located in El Sadat and not Beni Suef as was previously written. 

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