12 September 2018
Egypt’s Ministry of Public Sector has announced that the National Cement Co (NCC) has fallen into liquidation. NCC’s kiln lines had been shutdown since 31 May 2018.
Minister Hisham Tawfik announced that the company had lost EGP900bn (US$50bn) in the past year. The factory is also heavily in debt, owing EGP4.4bn to the Egyptian Natural Gas Holding Co and EGP700m to the Egyptian Electricity Co.
In the most recent financial year, the company’s losses were the highest among all public sector companies. These losses…
Read the full article at: https://www.cemnet.com/News/story/164890/egypt-s-national-cement-co-goes-into-liquidation.html
