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FINANCIAL NEWS
Sinoma Intl’ signs deal with Egypt Defence Ministry at USD 1.17bn
16 Jun 2016
(MENAFN) Sinoma Intl’ Engineering Co. proclaimed that it had signed an agreement worth USD 1.17bn with the Egyptian government.
Additionally, Egypt is the top cement producers with a while production capacity of 70mn tons of clinker, while recently the cement industry accounts for 3.7 Pct.
The new project will be launched in Beni Suef, which will include camp construction, a mining platform and a mining crusher plant.
On the other hand, half of the whole deal’s amount of USD 1.17bn, involving financial costs, which made up 34.72 Pct of the revenue, will be paid in euros.
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