GMC Group to invest LE100 m for restaurants complex in Mohandessen

Updated 12/19/2017 11:05:03 AM

ArabFinance: GMC Group for Industrial Commercial & Financial Investments (GMCI) clarified what was published in newspapers regarding injection LE165 million investments during 2018.

The company said in a statement sent to Egyptian Stock Exchange (EGX), the news mentioned the GMC group's parent company, not the listed one in EGX which is GMC Group for Industrial Commercial & Financial Investments.

It is worth to mention, concerning the published news, GMC group - parent company - will inject LE50 million to increase productivity of its subsidiary, GMC For Engineering & Food Industries's plants. Moreover, LE15 million to complete commercial mall in Haram for Pyramids Trading Center.

GMC Group for Industrial Commercial & Financial Investments has LE8 million investments with 10% annual interest that not less than the highest central bank's rate interest.

LE100 million to establish a restaurants complex in Mohandessen with an area 300 sq. m. for a new company, Spinx Group for touristic projects.