Cairo-Mubasher: Alexandria Portland Cement said its board gave a nod on Wednesday to the repayment of loans worth EGP 112.7 million ($14.7 million).

The board approved paying off nearly EGP 9 million from East Cement's loan totalling EGP 12 million, and repaying the EGP 16.5 million loan of Koussim Co., the company said in a bourse statement.

In addition, the board gave the go-ahead for paying back EGP 87.2 million from the EGP 135 million loan of Alexandria Development.