EK Holding in negotiations for allocation of 6k feddans to planting trees for its upcoming MDF facility
Moataz Al-Alfi, Chairman of EK Holding (EKHO), announced that the company has begun negotiations with the Council of Ministries for the allocation of 6k feddans of land to plant trees. Al-Alfi noted that the forest tree will be used to source raw materials for their upcoming MDF project, which is expected to have an investment cost of cUSD112mn. It is worth noting that the MDF facility is expected to commence operations by 2020e.
Egyptian Kuwaiti: USD1.11 as of 31 Oct. 2018, Rating: Buy, TP: USD1.50/share, MCap: USD1,137mn, EKHO EY/EKHO.CA
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