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    Global Cement: EGAS Dues from National Cement Plant Hit US$131m - Egypt

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Summary

Chairman of EGAS Khaled Abdel Badie has said that 75% of the company's debt, $1.57 billion, comes from industry unwilling to pay on time monthly

by: Erica Mills

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Press Notes, Africa

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Global Cement: EGAS Dues from National Cement Plant Hit US$131m - Egypt

According to the Middle East North Africa Financial Network, Egyptian Natural Gas Holding Company's (EGAS) dues from the government-owned National Cement plant have hit US$131m. EGAS has demanded that its money be paid back, but it remains undecided when it will receive the dues.

"The total dues from the industrial sector are now more than US$1.57bn, for its natural gas consumption and the delay in paying monthly bills," said EGAS chairman Khaled Abdel Badie in a statement to Daily News Egypt.

Read the full article HERE.

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