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ISMQ to separate cost center of ore concentration project

ISMQ to separate cost center of ore concentration project

ArabFinance: Iron And Steel for Mines and Quarries (ISMQ) will separate the cost center of the semi-automated center of the trial of ore concentration project with a Ukrainian company, according to the company's statement filed to the Egyptian Exchange.

ISMQ is a demerging company from Egyptian Iron and Steel company (EISC).

EISC decided to demerge into two companies Egyptian Iron and Steel (demerged company) and Iron and Steel for Mines and Quarries (demerging company).

In this regard, EISC will decrease its capital to EGP 1.758 billion from EGP 1.953 billion by cut the par value of its share to EGP 1.8 from EGP 2 per each.

 

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