Eastern Co. to submit feasibility study on tobacco cultivation to Parliament
Eastern Company (EAST.CA) intends to present a feasibility study on tobacco cultivation in Egypt to Parliament, after facing difficulties importing tobacco due to FX shortage. According to chairman, the company’s specialised committees has completed the feasibility studies and has started looking for suitable sites to grow tobacco locally. He further added that Parliament’s approval is considered a significant step before addressing the Egyptian Armed Forces and the Ministry of Agriculture to allow the company to cultivate tobacco. (Daily News Egypt) Eastern Company: EGP212.00 as of 09 October 2016, Rating: Buy, FV: EGP310.00 per share, MCap: USD1,194mn, EAST EY / EAST.CA
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