Arab Finance: The Ministry of Industry is studying a plan to develop a company Egypt Aluminum (EGAL)With investments amounting to $250 million over five years, according to statement Issued by the Ministry following the meeting of the Ministerial Group for Industrial Development.
The proposed plan will preserve the company's assets, rehabilitate production lines and increase production capacity, and prepare the company for the European Union's carbon border adjustment mechanism to maintain exports.
The Ministry of Public Enterprise Sector will present a complete company development plan with a specific time frame at the next meeting of the Ministerial Group for Industrial Development.
About the indicators of its unaudited business results for the period ending in 30/09/2024It showed 4.232 billion pounds, compared to a net profit of 1.630 billion pounds for the same period of the previous year, with a growth rate of 160%.
The company was established in 1976 and its purpose is to produce, distribute and market aluminum metal, its raw materials, supplies, alloys, derivatives and artifacts at home and abroad. It also carries out other activities in real estate or financial investments and can be a securities portfolio. The company also follows the utmost levels of quality and keeps pace with every development in the aluminum industry in which it operates. It is placed among the ranks of major international companies specialized in this field through continuous improvement and diversification in production and meeting the demands of our customers abroad and at home.
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