Rakta signs contract for factories rehabilitation

Updated 10/15/2020 8:43:00 AM

ArabFinance: General Company for Paper Industry (Rakta) (RAKT) signed on October 13th a technical consulting contract with India-based C2C Consultancy for the rehabilitation and development of the former's factories, according to a company’s statement.

Rakta reported a net loss of EGP 12.3 million in August 2020, a 156% rise from EGP 4.8 million incurred in August 2019.

The company expects a loss of EGP 76.9 million in the fiscal year 2020/2021.

Rakta is an Egypt-based public shareholding company engaged in the production and distribution of printing and wrings papers, and multi-layered duplexes carton papers.

The company’s products include white paper, kraft paper, fluting and special fluting paper, test liner paper, super kraft liner paper, duplex and bristol, and manila paper.