Cairo – Mubasher: The ordinary general meeting (OGM) of Egyptian Iron and Steel (HADISOLB) has approved the company’s budget for fiscal year 2018/2019 with estimated losses of EGP 250.3 million.
The OGM has also nodded to the investment scheme of EGP 257.6 million for FY18/19, the iron and steel producer said in a filing to the Egyptian Exchange (EGX) on Monday.
In March, the Egypt-based firm adjusted the business scheme for FY18/19 to invest EGP 257.6 million.
The company has previously announced that it targeted EGP 5.14 billion in sales in FY17/18, in addition to investments of EGP 103.1 million.
