Arab Finance: Al Ahly Group for Modern Agriculture, a subsidiary of Al Khair River for Development, Agricultural Investment, and Environmental Services, has paid the third installment due to Minya Governorate under a land purchase contract, as per a statement.
The third installment, valued at EGP 33.596 million, was paid pursuant to an agreement signed on August 31, 2023, under which the unit acquired a 3,400-feddan plot of land in Minya.
With the latest payment, the total amount paid toward the land purchase has reached EGP 129.362 million, out of the EGP 190.483 million total contract value. Meanwhile, the remaining balance is subject to an annual interest rate of 7%.
On September 1, the subsidiary paid the due installment of EGP 19.79 million to the Egyptian Countryside Development Company.
