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Wadi Cement to raise capital

Egypt's El Wadi Cement is increasing its capital as it moves to join a thriving building materials market, al-Mal newspaper has reported. El Wadi will boost its paid-in and issued capital from 115 million Egyptian pounds ($21m) to 800 million and use the cash to import equipment from Italy, the newspaper reported, quoting the firm's managing director Khairy Maklad.

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