ArabFinance: Engineering Industries Company (ICON) (ENGC) announced acquiring 74.998% of Sun Infinite East company's share capital, amounting to EGP 11.249 million.
ICON's Ordinary General Meeting (OGM) that took place on May 04, 2019 approved a commutative contract for purchasing up to 80% of Sun Infinite East.
It is worth mentioning that Sun Infinite East owns solar power stations on the surface of buildings that produce electric power of 2 MW. It signed with the Ministry of Electricity with a feed-in-tariff system for 25 years since April 01, 2019.
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