El Sewedy Cement in talks for EGP 5 bn in loans

El Sewedy Cement is in talks with a banking consortium for an EGP 4 bn loan to finance expansions in Portland cement manufacturing, unnamed sources told Al Mal. The consortium includes NBE, Banque Misr, Qatar National Bank, and the Arab African International Bank. The loan will be paid back over 10 years with a 2-3 year grace period. South Valley Cement denied earlier reports in Al Mal that it is in talks with banks for an EGP 1 bn loan to finance a new production line, according to Al Borsa.