Cairo – Mubasher: El Nasr for Manufacturing Agricultural Crops said it will auction a 27,185 square meter land plot through a sealed bid auction, on 5 September 2016.

Previously, the company said it will use the proceeds of selling the land to settle number of internal and external financial obligations, like a loan settlement with Alex Bank and operating Bini suif plant.

The company brought down its losses by 77% y-o-y to EGP 2.9 million in FY15/16, from EGP 12.8 million a year earlier.