EconomyMarkets

Exclusive: Egypt amends tender terms for cigarette-making licence

© Reuters. FILE PHOTO: A man smokes a Cleopatra cigarette, produced by Eastern Company SAE, at a cafe in Cairo, Egypt October 23, 2018. REUTERS/Mohamed Abd El Ghany/File Photo

CAIRO (Reuters) – Egyptian authorities have presented an amended invitation for tobacco companies to bid for a licence to manufacture cigarettes, a document seen by Reuters showed, after four firms complained the terms were too narrow.

Under the new terms, sent to tobacco companies on June 1, the winning bidder should agree to produce 1 billion cigarettes per year instead of 15 billion per year.

Authorities have set a two-month deadline for companies wishing to submit their bids, the document from Egypt’s Industrial Development Authority showed.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source link

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button