Minister of Public Enterprises Sector, Hisham Tawfik, witnessed signing a debt settlement agreement between Misr Helwan Spinning and Weaving Company and South Cairo Electricity Distribution Company, on Thursday.
According to the agreement, Misr Helwan will swap its debts owed to the electricity distribution company, estimated at EGP 143m until August 2019, for real estate assets after their valuation.
Also, both parties will stop all court cases concerning these debts.