Egypt’s Carbon Holdings inks equity framework agreement for TPC with African Finance Corp.

CLARIFICATION- Carbon’s TPC inks equity framework agreement: Tahrir Petrochemicals Corporation and Lagos-based Africa Finance Corporation (AFC) have signed a USD 1.25 bn equity subscription framework agreement for its c. USD 11 bn petrochemicals project, slated to become the largest of its kind in the region, Carbon Holdings said in a statement (pdf). “We are proud to partner with Tahrir Petrochemical Corporation; a breakthrough project in one of the most important petrochemical industries in the region, which we believe will benefit Africa as a whole,” said AFC representative Mr. Sanjiv Gupta. Media reports had earlier presented the framework agreement as a firm commitment of USD 1.25 bn in financing.