Displaying items by tag: National Bank of Egypt
Arabian Cement Company reschedules US$30.9m loan to 2021
11 January 2018Egypt: The Arabian Cement Company (ACC) has successfully rescheduled a US$30.9m loan from the National Bank of Egypt. The loan will now be paid in quarterly instalments to mid-2021, according to the Daily News Egypt newspaper. The borrowing was originally taken out to expand its production faculties.
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.