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FINANCIAL NEWS
Egypt’s AMIC establishes minor Co. to produce renewable energy
08 Mar 2016
(MENAFN) The Arab Moltaqa Investments Co. (AMIC) established a subsidiary firm, United Company for Investments and Real Estate Developments to produce renewable energy.
Moreover, the company predicted that the United Company will produce 4,000 MW per year, as well as 27,000 cubic meters of organic compost.
Accordingly, the firm seeks to spread its investment portfolio as part of a rebuilding process that will attract new investment sectors which have chances to increase.
The AMIC subsidiary will be founded with a basic capital investment of USD 1.01mn, while it has contributed almost USD 0.71mn or 70 percent to this investment.
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