ArabFinance: Ahmed Abou Hashima, CEO of Egyptian Steel, is set to establish a new investment company to finance defaulted companies and other businesses seeking expansion, Al Mal News reported, citing informed sources.

The Egyptian tycoon is completing required procedures to establish the new company which will be named Abou Hashima Investment.

Abou Hashima Investment will engage in partnerships with entities that have struggling projects.

The new company will provide technical consultancy and financial support in exchange for shares or a portion of revenue.

Abou Hashima Investment will also support entities with promising projects and expansion plans. It will have the right to manage projects and conduct changes to their plans through technical and financial advisors.

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