Raya’s Governmental Dues reach 70 million EGP

Engineer Medhat Khalil – President of Raya Holding Company- said that dues of government’s ministries and commissions to the company; reached about 70 million EGP.

Khalil said that the company has finished the settlement of loans with the ministry of finance, as he mentioned that Nile University’s indebtedness with Raya has reached about 5 million EGP, and the company has not reached any agreement with university’s management to settle them.

Khalil told Amwal Al Ghad that the company has done all negotiations regarding acquiring a loan of 250 million EGP, that will be directed to finance Raya’s project of “Smart Buildings”, as the company expects to receive this loan during next July, after finishing the presidential elections, and he denied to declare the name of banking firms that will supply the company with the loan until acquiring it.