ArabFinance:  Electro Cable Egypt purchased a land plot with an area of about 54,000 square meters worth EGP 38 million in Sadat City, according to the company’s statement filed to the Egyptian Exchange (EGX).

The land will be utilized in cable manufacturing expansion, which will increase the production capacity by 35%, the company added.

The EGX concerned committee approved listing the new shares of Electro Cable Egypt following a stock split from EGP 1 to EGP 0.20 per each.

Electro Cable is an Egypt-based public shareholding company that operates in the electric components manufacturing sector. The company manufactures and distributes power and telecommunication cables and wires in Egypt and abroad. Its product portfolio includes low, medium and high-tension power cables, isolated cables, and telephone communication cables.