Oil extraction company Oilex is expected to sign within days a EGP 2.4 bn loan agreement from a banking consortium that includes NBE, First Abu Dhabi Bank, Banque du Caire, Arab Bank, and Suez Canal Bank, Al Mal reports. The company will use the loan to partially finance its construction of a EGP 3 bn industrial complex in Sadat City. The complex will include a cooking oils factory, oils refinery, and a storage unit for seeds used to extract oil. Earlier reports had indicated that the banking consortium included CIB, and that the loan would be EGP 1.5 bn.

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