South Valley obtains LE150m letter of guarantee from CIB

Updated 10/25/2016 4:02:10 PM

Arab Finance: South Valley Cement Company (SVCE) announced that it has submitted a letter of guarantee, amounting to LE 150 million, issued by Commercial International Bank of Egypt (COMI) , to Industrial Development Authority (IDA) , aiming to obtain the new cement license.

The company asserted that it will disclose the details once it got informed with the tender’s results.