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US Bechtel wins contract for Egypt Aluminum’s seventh production line

US Bechtel wins contract for Egypt Aluminum’s seventh production line
The company suffered net losses of EGP 1.638 billion in FY19/20
Egypt Aluminum
EGAL
3.19% 13.50 0.42

Cairo – Mubasher: Egypt Aluminum has awarded the US Bechtel an engineering consulting service contract for the development of the seventh production line to increase its aluminium output.

Preparations are underway for establishing the first phase of the project, the company said in a bourse disclosure on Sunday.

During fiscal year 2019/2020, the aluminium manufacturer suffered net losses of EGP 1.638 billion, against net profits of EGP 570.93 million a year earlier.