Egyptian Sponge Iron and Steel (ESIS), a subsidiary of Beshay Steel, is holding talks with a number of local banks, including Banque Misr, NBE, CIB, QNB, and the Arab African International Bank, for a EGP 3.5 bn loan to finance expansions, according to Al Mal. The company is looking to finalize the loan agreement in 1Q2019.

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