Egyptian Iron, Steel ratifies valuation of lands

The company owns 270 acres in Helwan and 325 acres in its headquarter

  

ArabFinance: Egyptian Iron and Steel Company ratified the valuation of some of its lands in light of the settlement with Metallurgical Industries Holding Company, Banque Misr, and Petrotrade company, according to a statement filed to the Egyptian Exchange.

The company owns 270 acres in Helwan and 325 acres in its headquarter of EGP 1.23 billion. The value will re-settle a big part of the Iron indebtedness.

IRON suffered a net loss of EGP 274,486,159 in the July-September 2020, compared to EGP 367,813,340 achieved in the prior-year period.

Egyptian Iron and Steel, an affiliated company of HCMI, is an Egypt-based public shareholding company engaged in the exploitation, production, and trade of iron and steel products. The Company provides two product segments, Major Products, and Other Products.

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