Arabian Cement borrows EGP 231 mn from National Bank of Egypt

Arabian Cement Company signed a seven-year EGP 231 mn loan agreement with the National Bank of Egypt on Tuesday, according to an EGX filing. The loan will be used to finance the purchase of a new coal mill. It will also be used to finance a mechanical, energy-saving bucket elevator and to establish a new system for feeding cement mills that will improve output quality.