Staff Writer
The Egyptian Financial and Industrial Company (EFIC) is required to pay EGP 126.33 million and $1.68 million as penalties for two shipments, according to a recent bourse filing.
The Cairo Regional Centre for International Commercial Arbitration (CRCICA) has issued an arbitral award in favour of Heliopolis, which called for two shipments of granulated mono-phosphate fertilizer.
On the other hand, EFIC has filed a lawsuit to annul the arbitral award and has initiated other legal proceedings against Heliopolis and Heliogri, which acknowledged receipt of the shipments.
During the first nine months (9M) of 2025, EFIC registered an annual drop in consolidated net profits after tax to EGP 803.14 million, compared with EGP 1.32 billion.
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