Arab Finance: Egypt Aluminum Company (Egyptalum) (EGAL) will offer 65% or $200 million of the cost of rehabilitation valued at $300 million for one of the Arab sovereign funds, according to a statement filed to the Egyptian Exchange (EGX) on September 7^th.

The amount will be offered through a capital increase to finance the company's development and maintain its current production capacity rate at 32,000 tons per annum.

This came as a response to the comments made on September 6^th by the Chairman of Metallurgical Industries Holding Co (MIH) on a TV channel regarding Egypt Aluminum’s plan to offer 65% in its capital increase for one of the Arab sovereign funds.

Egyptalum is the largest aluminum producer in Egypt and is one of the leading companies in Africa.