The Industrial Development Authority (IDA) held a meeting, on Monday, to look into technical offers for a new tobacco factory license, in the presence of four companies.
Ibrahim Imbabi, Head of the Tobacco and Cigarette Division at the Federation of Egyptian Industries, said the United Company has already submitted its technical offer, while the British American Tobacco Company, Mansour Group (Imperial agent) and Japanese JTI asked for a postponement.
Imbabi added that the companies had several reservations about the amended conditions brochure, including a request to extend the deadline for submitting technical proposals. The request is scheduled to be submitted to the Cabinet.
He explained that one of the companies submitted a request to separate the traditional cigarette license from the tobacco license due to different prices.
For his part, an official source confirmed that the Eastern Company will receive 24% of the value of the new license, to compensate the state-owned company in case of any possible decline in sales.
