98 international and local efforts to buy 11 companies, two factories in Egypt

The Egyptian ministerial committee for privatization, chaired by Prime Minister Kamal El-Ganzoury, is to discuss at the end of this month 98 international, local and Arab offers to buy 11 companies and two factories in Egypt and ratifying a program concerning reform for 28 state-owned companies.

In the meantime, Egyptian Minister of Public Enterprises Atef Ebeid, who is responsible for privatization, said the expanded meeting of holding companies has specified the companies that are to be floated for sale in February. They are: Arab and foreign companies for industrial gases, the Stilco, Metalco and Varta companies for paper, the Novacid and Delta companies for Sand bricks, Egypt's company for studio, Egypt's company for cinema distribution, Genakliss company, and El-Ahlia company for mineral industries. The two factories produce yeast and cement. 90% of these companies' shares are to be sold.