Evergrow agrees EGP 1.2 bn loan with three banks

Evergrow for Speciality Fertilizers has reached an EGP 1.2 bn financing agreement with the National Bank of Egypt, the Arab African International Bank and Abu Dhabi Islamic Bank, Chairman Mohamed Al Kheshen told the domestic press. The financing will be used to fund new investments and covers 60% of the company’s total investment plans of EGP 2 bn. The company aims to produce 190k tonnes of fertilizers after its planned expansion.