Cairo – Mubasher: Misr Refrigeration and Air Conditioning (Miraco) said its ordinary general meeting gave a nod to lending Carrier Africa a maximum amount of EGP 450 million.

Miraco stated that it will lend Carrier Africa an amount that ranges between EGP 150 to EGP 450 million, noting that the amount shall be repaid before the end of the fiscal year.

Miraco reported an increase of 133.43% in net profits to EGP 70.5 million for the third quarter of 2016.