Misr Beni Suef Cement
MBSC
MBSC
Misr Beni Suef Cement Co. announced Thursday, in a statement to the stock market, that it signed a contract with a local bank for a credit facility worth EGP 100 million that will go for building a coal mill.
The loan will be used in covering the investment cost of building the mill, which amounts to EGP 200 million, the company said, adding that the other portion of the cost will be self-financed.
The cement producer had said in October it agreed to construct a coal mill in a year, adding that the mill would be completed by the end of 2015.
The company had posted EGP 204.4 million net profit for the first nine months of FY14, with a drop by 26.6%.
Photo Credit: Arabianeye-Reuters
The loan will be used in covering the investment cost of building the mill, which amounts to EGP 200 million, the company said, adding that the other portion of the cost will be self-financed.
The cement producer had said in October it agreed to construct a coal mill in a year, adding that the mill would be completed by the end of 2015.
The company had posted EGP 204.4 million net profit for the first nine months of FY14, with a drop by 26.6%.
Photo Credit: Arabianeye-Reuters
Source:
Mubasher
