Eastern Company (S. A. E.) for Tobacco is studying the establishment of two solar power plants with a capacity of 1 megawatt per each in the industrial complex in the 6th of October City.
In a statement released on Saturday and sent by the company to the Egyptian bourse, it said the cost of the two power plants would reach to EGP 24 million.
It said the two stations would provide power to the streets of the industrial complex and would be a substitute for ordinary energy sources.
Eastern Company's capital reached EGP 750 million distributed on 50 million shares.
Eastern Tobacco was established in 1920 and benefits from a complete market monopoly on domestic cigarette production. Eastern Company is primarily engaged in the manufacture and trade of tobacco products and accessories, as well as the investment, financial, commercial, industrial, agricultural, real estate and services sectors. Eastern Company’s products are divided into two divisions: local and export products.
The company specializes in manufacturing international cigarette brands.