Tourah Portland Cement Company announced the sale of decommissioned kilns and grinding mills at a public auction held on 16 December. The items, which had ceased operation in 2013, raised EGP30.7m (US$1.91m), according to a statement to the Egyptian Exchange (EGX) on Monday. The company will also sell some scrap to its subsidiaries.
During the first nine months of 2019, the company's losses widened to EGP516.56m from EGP19.6m a year earlier.
The company suspended production in June 2019 following a deterioration in the market and accumulation of EGP800m of debt.
