Elsewedy, Afreximbank ink USD 500 mn loan agreement: Elsewedy Electric signed a USD 500 mn loan agreement with the African Export-Import Bank (Afreximbank) to finance its projects in Africa, Elsewedy marketing director Ahmed Hassouna said, according to Youm7. The funds will go toward the USD 3 bn hydroelectric dam in Tanzania, for which the final contracts will be signed today. Prime Minister Moustafa Madbouly is heading to Tanzania for the project’s signing ceremony, while Tanzanian President John Magufuli announced he will sign the Tanzanian dam project this week. Elsewedy will also direct the funding to an electricity generation equipment factory in Uganda, on which it is set to break ground next year. Elsewedy Electric and partner Arab Contractors will sign the USD 3 bn agreement today, Hassouna added.

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