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In the extraordinary general meeting of the company was approved.

Mon, 01/29/2018 - 17:12 -- admin
In the extraordinary general meeting of the company was approved. 87.5 percent increase in capital of Ballast co. Group of company-today Ballast Company in order to increase in capital acted to held the extraordinary general meeting. According to our correspondent in this meeting Mr. Jafari general manager pointed to this content, the decision of 87.5 increases in capital with aim of reforming the company’s financial structure was maid.  He stated;”the place of capital increase is the accumulated profit that has been saved in the company over the past years and its expenses are used to offset the company’s expenses. He stated: "The place of capital increase is the accumulated profit that has been saved in the company over the past years, and its expenses are used to offset the company's expenses during these years and to redeem the facilities received from the Ballast co." The managing director of the company highlighted the numerous projects underway by the company and said: "We are currently implementing important projects around the country, which, based on the engineering capabilities of the Ballast company, If the government as employer supports our company, we will be able to develop more projects. He indicated presence in infrastructure projects of railway, high way and construction which our expert knowledge are priorities. Infrastructure, superstructure and rehabilitation of railways and producing ballast stone are our traditional area of business . Mr. Jafari reminded that Ballast co started in the year of 1992 with 10 billion and 736 million rials capital and in the year of 2004 its capital increased to 38 billion rials, then in year of 2014 the capital hit the number of 80 billion rials and now with the decision of general meeting this amount will be recorded 150 billion rials .