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Egypt Aluminum receives 3 bids for new production line

Egypt Aluminum receives 3 bids for new production line
Technical bids will be studied by the concerned committee
Egypt Aluminum
EGAL
0.49% 12.37 0.06

Cairo – Mubasher: Egypt Aluminum has received bids from three companies for the provision of engineering consultations regarding the establishment of a seventh production line to increase its aluminium output. 

Technical bids of the US Bechtel Corporation, the UK’s KHOME, and the Chinese Chaleico will be studied by the company’s technical committee, according to a statement to the Egyptian Exchange (EGX) on Thursday.

It is noteworthy to mention that in the first nine months of FY19/20, Egypt Aluminum suffered net losses of EGP 1.019 billion, against net profits of EGP 715.8 million in the year-ago period.