Asian stocks fall on Tuesday    Oil prices fall on Tuesday    Gold prices dip on Tuesday    Egypt begins trial operations at Red Sea Container Terminal as first vessel docks at Sokhna Port    Egypt, Saudi FMs discuss Gaza, Sudan and preparations for Supreme Coordination Council    Egypt moves to roll out 'green label' for plastic products to boost circular economy    As Kyiv weighs neutrality, Kremlin eyes a 'cornerstone' for peace while Europe warns of trap    GAFI witnesses first Polish investment agreement in Egypt's frozen food sector    Egypt, Italy's Eni discuss healthcare partnership to operate two hospitals    'Friends become enemies': Trump's new strategy fractures European unity    Egypt's SPNEX Satellite successfully enters orbit    Madinaty Golf Club hosts charity tournament for Alzheimer's awareness    Egypt health ministry explores expanded TB screening, water surveillance with Clinilab    Egypt unveils restored colossal statues of King Amenhotep III at Luxor mortuary temple    Egyptian Golf Federation appoints Stuart Clayton as technical director    4th Egyptian Women Summit kicks off with focus on STEM, AI    Egypt's PM reviews major healthcare expansion plan with Nile Medical City    Egypt's Cabinet approves development of Nasser Institute into world-class medical hub    UNESCO adds Egyptian Koshari to intangible cultural heritage list    UNESCO adds Egypt's national dish Koshary to intangible cultural heritage list    Egypt calls for inclusive Nile Basin dialogue, warns against 'hostile rhetoric'    Egypt recovers two ancient artefacts from Belgium    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches Red Sea Open to boost tourism, international profile    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



NBE Eyes Arranging EGP10 bln Syndicated Loans in FY13/14
Mohamed Hamdy Published in Amwal Al Ghad on 03 - 10 - 2013

The National Bank of Egypt (NBE) is planning to arrange syndicated loans totaled EGP 10 billion within the current fiscal year 2013-2014, designated for various economic sectors, notably for communications, electricity and building materials.
A senior source from NBE told Amwal Al Ghad that his bank intends to inject EGP 250 million for Egypt Kuwait Holding's affiliate working in field of building materials. EK Holding's affiliate had formerly obtained in 2009 a syndicated loan worth EGP 1.2 billion, dedicated for EGP 350 million plan to make its factories using the natural gas and coal instead of diesel.
The source further added that NBE had signed last week a funding agreement with other 4 lenders to provide the railway equipment factory Semaf, an affiliate of Arab Organization for Industrialization (AOI), a loan worth € 96 million.
In addition to NBE, the 4 other contributors to Semaf's loan were Banque Misr, Commercial Internatioanl Bank – Egypt (CIB), Société Arabe Internationale de Banque (SAIB), and the Egyptian Gulf Bank (EGB). The loan was designated to purchase 212 air-conditioned railcars within the framework of the joint cooperation between Semaf and the Egyptian Railway Authority (ERA).
Elsewhere, the source said the banking consortium; NBE, Banque Misr, Banque Du Caire and National Societe Generale Bank (NSGB) will be signing very soon the final agreement to provide El Nasr Company for Coke and Chemicals, a subsidiary of the Metallurgical Industries Company, a loan worth EGP 725 million.
The loan will be used to finance the rebuilding of the third battery of the company to comply with the new standards as El Nasr Company for Coke has four batteries with 230 ovens which have annual production capacity of 1.6 million tonnes.
Moreover, the source revealed that NBE is targeting contribution with EGP 630 million in the first public-private partnership project (PPP project) worth EGP 900 million for Semouha Hospital with the participation of the Commercial International Bank - Egypt and the Ahli United Bank (AUB).

Clic here to read the story from its source.