Corporate news
Egypt Aluminum [EGAL]
Target Price: EGP 285
The Ministry of Public Business Sector announced that it is nearing the completion of the Egypt Aluminum development project, having selected a strategic investor from among3partnership proposals. The deal is expected to be finalized this January.
The Ministry explained that the partner will fully finance the Egypt Aluminum development project, aiming to double the plant’s production capacity to 600k tons annually, compared to the current 300k tons. This will enhance the company’s competitiveness in both domestic and international markets.
This development is expected to positively impact the company’s share price on the Egyptian Stock Exchange, driving share growth in the coming period.
Omar Hegazy - Equity Analyst
OHegazy@egy.primegroup.org