Egypt- Remco mulls $250m project

16 Jun 2010

(MENAFN) The President of Remco for Touristic Villages Construction, the third-biggest publicly traded resorts company in Egypt, said that the company may build a $250 million cement plant and increase its capital by issuing global depositary receipts, AP reported.

The company is currently studying two available licenses for the cement plant in South Sinai and Wadi El Gadeed, he said in an interview in Cairo, adding that there are also eight new ones that Remco will study. The plant would have a capacity of 1.5 million tons.

Remco may also issue global depositary receipts through a capital increase, he also said.

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