Alexandria Mineral Oils Company [AMOC.CA] has announced its 2016/17 investment budget with a capex figure of EGP45mn, cutting it from the previous target of USD127mn. The budgeted capex plan includes i) EGP12mn in building and constructions; ii) EGP23mn in machinery and equipment; iii) EGP1.5mn in transportation; iv) EGP4mn in Tools; and v) EGP4.5mn in furniture and office equipment.
AMOC: EGP108.42 as of 21 Mar. 2017, Rating: Neutral, TP: EGP97.00/share, MCap: USD519mn, AMOC EY/AMOC.CA