{"id":571442,"date":"2020-05-12T04:02:56","date_gmt":"2020-05-12T04:02:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/12\/ascom-mining-defers-egp-80-mn-investment-as-covid-scrambles-supply-chains\/"},"modified":"2020-05-12T04:02:56","modified_gmt":"2020-05-12T04:02:56","slug":"ascom-mining-defers-egp-80-mn-investment-as-covid-scrambles-supply-chains","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/12\/ascom-mining-defers-egp-80-mn-investment-as-covid-scrambles-supply-chains\/","title":{"rendered":"Ascom Mining defers EGP 80 mn investment as covid scrambles supply chains"},"content":{"rendered":"

INVESTMENT WATCH- Qalaa\u2019s Ascom to postpone EGP 80 mn investment in<\/strong> new production lines as covid-19 scrambles supply chains:<\/strong> Qalaa Holdings subsidiary ASEC Company for Mining (Ascom) will defer a planned EGP 80 mn investment it had earmarked in adding new production lines, the company said in a disclosure to the EGX (pdf)<\/a>. The covid-19 outbreak has made it difficult for the company to secure the supplies it needs for the new production lines.<\/p>\n

Capital will be earmarked for debt payments instead:<\/strong> The company will redirect the capital to repay a EGP 45 mn loan from Qalaa\u2019s cement arm, ASEC Holding, in addition to another EGP 35 mn in dues, Ascom said in a separate statement (pdf)<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

INVESTMENT WATCH- Qalaa\u2019s Ascom to postpone EGP 80 mn investment in new production lines as covid-19 scrambles supply chains: Qalaa Holdings subsidiary ASEC Company for Mining (Ascom) will defer a planned EGP 80 mn investment it had earmarked in adding new production lines, the company said in a disclosure to the EGX (pdf). The covid-19 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[5106,72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-571442","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-asec-holding","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"5089fc83-cd54-4eb4-946a-56954eec38dd","is_powered_by":true,"section_story_id":"1c23ccc2-49f3-4ec3-8a96-2b792743862c","story_type":"1","photo_url":"","photo_position":"above","related_issue":[571429],"teaser":"","voice_url":""},"yoast_head":"\nAscom Mining defers EGP 80 mn investment as covid scrambles supply chains - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/12\/ascom-mining-defers-egp-80-mn-investment-as-covid-scrambles-supply-chains\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ascom Mining defers EGP 80 mn investment as covid scrambles supply chains\" \/>\n<meta property=\"og:description\" content=\"INVESTMENT WATCH- Qalaa\u2019s Ascom to postpone EGP 80 mn investment in new production lines as covid-19 scrambles supply chains: Qalaa Holdings subsidiary ASEC Company for Mining (Ascom) will defer a planned EGP 80 mn investment it had earmarked in adding new production lines, the company said in a disclosure to the EGX (pdf). 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