Egyptian Takaful eyes stake in a new carbon black company

The Egyptian Takaful Insurance Company – Non-life is studying a contribution in the capital of an under-construction carbon black company in Alexandria, the insurer official said Wednesday.

According to Egyptian Takaful Insurance’s investment head El-Sayed Bayoumi, the new company is set to be launched soon with a capital of one billion Egyptian pounds (US$ 127.7 million), to locate in Borg El Arab, Alexandria.