Egypt’s Metallurgical Holding invests US$ 2 bln in Affiliated Companies

By Administrator On May 28, 2015

Egypt’s Holding Company for Metallurgical Industries has pumped EGP18 billion investments (US$2 billion) through ten years to upgrade 12 affiliated firms, Zaki Basyouni – Chairman- said on Thursday.

The chairman made these remarks on the sidelines of Investment Minister’s visit to review Egyptian Copper Works today.

Basyouni added that Egyptian Copper Works is one of the most important affiliated companies that received investments worth EGP 840 million (US$ 110 million) through the past 10 years.

He added that EGP 650 million (US$ 85 million) of those investments were invested in fixed equipments in order to support company’s performance in the upcoming period.

Moreover, the chairman clarified that Metallurgical Holding Company’s strategy during the current period depends on enhancing the communication with the affiliated companies to improve their production powers.