Ethydco in talks with local banks to finance EGP 1.8-2 bn polybutadiene plant

The Egyptian Ethylene and Derivatives Company (Ethydco) is reportedly in talks with local banks to arrange a EGP 1.8-2 bn loan needed for a polybutadiene factory it’s looking to establish at its Alexandria industrial complex, unnamed sources tell Al Mal. The company, which is shopping for a facility with a 5-7-year tenor, is holding discussions with CIB, as well as the National Bank of Egypt, Banque Misr, and Banque du Caire, they add, noting that a tranche of the loan will be provided in foreign currency. Ethydco is among the 23 state-owned companies which will IPOor list additional shares on the EGX.