Cairo – Mubasher: National Cement negated the news circulating that it has received an offer from China – based AVIC to enter a joint venture of EGP 2 billion.

Previously, news reports stated that National Cement is in the middle of negotiations with Chinese firm in order to restructure its two manufacturing plants.

The cement producer saw net profits of EGP 9.8 million in the first half of 2015/16, against losses of EGP 22.81 million for the similar period of the preceding year.