OCI Says To Restart Talks Over Unpaid Taxes

Egypt’s Orascom Construction Industries (OCI) (OCIC.CA) has said it is set to restart talks with the Egyptian Tax Authority over a dispute about unpaid tax, Ahram has reported. The firm was accused of tax evasion after it sold its cement unit to French cement maker Lafarge in 2007.

“Orascom is keen to settle its dispute with Egypt’s tax authority and will be completely transparent regarding its revenues from the Lafarge deal,” said Nassef Sawiris, chairman of OCI.