Egyptian Cement prepares to borrow US$221m to build cement plant

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Egypt: Egyptian Cement has started negotiations to secure a US$221m loan to finance the construction of its first cement plant in Sohag province. The cement division of Egyptian Group is dealing with a consortium comprising the National Bank of Egypt, Banque Misr, CIB and Arab African International Bank, according to the Al Mal newspaper. The total cost of the new 2Mt/yr plant is estimated at US$276m. Egyptian Group’s chief executive officer Ahmed Abu Hashima set up Egyptian Steel in 2010.

Last modified on 31 May 2017

URL: https://globalcement.com/news/item/6157-egyptian-cement-prepares-to-borrow-us-221m-to-build-cement-plant

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