Cairo – Mubasher: Suez Cement on Thursday said that its 99.55% subsidiary Helwan Cement SAE will sell the white cement plant at a value of EGP 694.5 million.

Emaar Industries, a subdiairy of Emaar Properties, will purchase the factory, according to a statement to the Egyptian Exchange (EGX).

Suez Cement’s unit previously inked a deal with Emaar Industries, enabling the second to purchase the white cement plant.

Suez Cement last reported turning to profitability in the first half of 2018, logging EGP 250.59 million, against EGP 40.61 million in the same period of 2017.