Cairo – Mubasher: El Badr Plastic Company said Sunday it used the proceeds from its capital increase in several investments.
A total of EGP 1.16 million went for establishing a new plant, while another EGP 46,250 was used in buying equipment.
Also, a total of EGP 30,200 was used as an installment for buying a land area for the company’s plant, while 349,700 went for buying a PE machinery.
The company also said EGP 2.62 million was allocated for financing working capital.
El Badr said it completed 80% of construction works at its plant.
The company earlier carried out a rights issue to raise capital to EGP 7.65 million from EGP 2.55 million.
