Cairo-Mubasher: Arab Polvara Spinning and Weaving said on Sunday that its extraordinary general meeting gave the green light for selling part or all of unused land plots.
The sale proceeds will be used to upgrade some production lines and repay part of debts, the company said in a bourse statement.
The Central Auditing Organization had a reservation on Polvara’s land sale as the company had not submitted the relevant detailed feasibility studies.
