Friday , May 20 2022

Al – Mal newspaper – with a piece of land and stocks … Egyptian Bank of Iron and steel Cui indebtedness


Rajab Ezzeldin

The Egyptian Iron and Steel Company recently signed a protocol with Banque Misr to settle its debts within the framework of the resolution issued by the Cairo Economic Court.

According to the agreement, the company includes the acquisition of a portion of the debt and some of the debts and a portion of the debt and the waiver of all other legal cases, as well as an estimate of about $ 6 million, as well as the purchase of the value of the previous debt.

The agreement came after a trilateral meeting between the Chairman of the Board of Metallurgical Industry Holding Holding Mr.Mahdat Nafie and Banque Misr Chairman of the Board Mohamed Al Atarby and the Chairman of the Egyptian Iron and Steel Company.

The Cairo Economic Court has made a final decision on the company's payment of $ 58.7 million in bank loans, which amounted to approximately $ 9 million for the bank's two interest-free payments.

The company said that the protocol was finalized and approved by the authorities during the day.

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