Cairo – Mubasher: Tourah Portland Cement Co. announced selling some of the items offered in the public auction held on 16 December, including old kilns and millers of Tourah plant only. The items have been ceased from operation since 2013.
Total proceeds amounted to EGP 30.7 million, according to a statement to the Egyptian Exchange (EGX) on Monday.
The company will also sell some scrap to its subsidiaries.
Earlier in August, Tourah Cement held an auction to sell those items but rejected the results due to the low offered prices.
It is worth noting that during the first nine months of 2019, the company’s losses enlarged to EGP 516.56 million from EGP 19.6 million a year earlier.
