Cairo – Mubasher: Edita Food Industries signed a medium-term loan agreement worth EGP 105 million with the Arab Bank.

The seven-year loan will finance the purchase and installation of a new production line, according to a statement to the Egyptian Exchange (EGX) on Sunday.

“The facility is eligible to be issued under the umbrella of the [Central Bank of Egypt’s (CBE)] initiative, granted with an interest rate of 8%,” the statement showed.

During the first six months of 2020, Edita logged EGP 93.78 million in net profits, down from EGP 167.8 million in the year-ago period.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.