Sep 25 2012
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Egypt's EPPC to raise USD450m to increase Port Said production
"We will invite new investors to subscribe to the company's shares, to raise the paid-up capital, in order to fund the expansion. We may issue new shares to expand the shareholder base or issue rights shares to existing shareholders," Mohamed Farid Khamis said.
" EPPC is considering floating some shares on the stock exchange to fund future projects, but we are still concerned about the Egyptian market's stability," he said.
"The expansion will put Egypt on the regional map of petrochemicals producers, which is currently dominated by Saudi Arabia, Qatar and Iran," said Yasser Ismail, former director of the Egyptian Petrochemicals Holding Company .
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