Cairo - Mubahser: Wadi Kom Ombo Land Reclamation Co. announced that it will work on selling land plots to provide the needed liquidity.

The company's currently files with the governmental institutions that occupy buildings it owns.

The firm will need a time interval of around 12 months to finish the adjustment procedures, following the decline of the shareholders equity by more than 90% to the issued capital and the company's consecutive losses for two years.

Wadi Kom Ombo reached an agreement with the National Bank of Egypt to reschedule its debts and to secure credit facilities to issue letters of guarantee.

The Egyptian listed firm saw net profits of EGP 219,000 in the fiscal year 2014/15, against losses of EGP 17.345 million for the previous year.