Eastern Co. to Invest $83 Million in Alexandria Plants, Mal Says

May 28 (Bloomberg) -- Eastern Co. plans to invest 500 million Egyptian pounds ($83 million) to build two tobacco factories in the Egyptian city of Alexandria, Al Mal reported, citing Chairman Nabeel Abdel Aziz.

The company will use revenue to finance the three-year project, the Cairo-based newspaper said.

To contact the reporter on this story: Ahmed A Namatalla in Cairo at anamatalla@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net