Cairo – Mubasher: Bahrain – based Midal Cables Limited Co. plans to establish a plant for manufacturing aluminum cables at investment cost of EGP 156.7 million ($20 million) in Egypt, said Hamid Rashid Al Zayani, Managing Director.
Midal operates five plants for producing electric cables in Bahrain, Saudi Arabia, Turkey, Australia and Mozambique.
The firm is running talks with the Egyptian government to secure a convenient land plot for the project, added Al Zayani on the sideline of economic summit in Egypt.
“We also studies appointing financial consultant company, to prepare the financial and technical studies required by the project,” said Al Zayani.
The project is expected to be finished, as well as commenced by the second of 2017, added the company’s chief.
