16
Sep
08:23
Egypt's Micor to inject $130m into steel, coke subsidiaries
The Holding Company for Metallurgical Industries (Micor) plans to inject EGP 1 billion ($127.7 million) into its subsidiaries in the fiscal year through June 2016 (FY16) according to chairman Zaki Bassiouni. This includes Egyptian Iron and Steel (Hadisolb). The funds will be raised internally after Micor could not provide a guarantee to banks in the event one of its subsidiaries defaulted.
The subsidiaries, which also include coke producer El Nasr Company for Co…
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Anonymous
Very good overview of the weekly steel market.
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