Egyptian Iron and Steel (HADISOLB) is targeting EGP 74.7 million in investments in its estimated budget of the fiscal year 2015/16, the company said in a bourse filling.  

Meanwhile, HADISOLB aims to narrow its losses to EGP 512.5 million in FY15/16.

The company's ordinary general meeting approved the estimated budget for FY15/16, it noted in a bourse statement.

The Egyptian steel producer suffered EGP 326.29 million in losses in the first half of FY14/15.

The company is capitalised at EGP 976.8 million, divided into 488.4 million shares at EGP 2 par value each.