Sidi Kerir Petrochemicals (SIDPEC) is in talks with local banks for a USD 1.2 bn loan for its new propylene plant in Alexandria, sources tell Al Mal. SIDPEC has approached CIB, the National Bank of Egypt, Banque Misr, Arab African Bank, QNB Egypt, HSBC, Credit Agricole, Export Development Bank, and Ahli United Bank, among others. The company had selected earlier this year Honeywell UOP and W.R. Grace & Co to construct the plant.

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