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.

Copyright 2021 Arab Finance Brokerage Company All rights reserved. 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.