{"id":557048,"date":"2021-09-05T04:00:09","date_gmt":"2021-09-05T04:00:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/construction-firm-bags-egp-12-bn-loan-to-finance-abu-qir-port-development\/"},"modified":"2021-09-05T04:00:09","modified_gmt":"2021-09-05T04:00:09","slug":"construction-firm-bags-egp-12-bn-loan-to-finance-abu-qir-port-development","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/construction-firm-bags-egp-12-bn-loan-to-finance-abu-qir-port-development\/","title":{"rendered":"Construction firm bags EGP 12 bn loan to finance Abu Qir port development"},"content":{"rendered":"

Construction outfit Gharably Integrated Engineering Company <\/strong>(GIECO) is set to receive a huge loan to develop the Abu Qir port<\/strong>, it said in a statement (pdf)<\/a> last week. A syndicate of local state-owned and private sector banks have agreed to lend the company EGP 12.3 bn in what National Bank of Egypt Chairman Hisham Okasha says is the largest joint loan of 2021 and the largest financing for a contracting operation in recent years. The money will partly finance the expansion of the northern and southern sides of the port as well as the development of the new city of Abu Qir, which is expected to cost a total of EGP 19.06 bn.<\/p>\n

Participating institutions include: <\/strong>National Bank of Egypt, which provided EGP 3.25 bn, Banque Misr, which contributed EGP 3 bn, CIB with EGP 1 bn, as well as the NBK Egypt (EGP 1 bn), Banque du Caire (EGP 750 mn), Credit Agricole Egypt (EGP 750 mn), Export Development Bank (EGP 700 mn), Bank of Alexandria (EGP 500 mn), Suez Canal Bank (EGP 500 mn), the United Bank of Egypt (EGP 500 mn) and Arab Investment Bank (EGP 300 mn).<\/p>\n

Background:<\/strong> GIECO had in January signed<\/a> an EGP 3.8 bn syndicated loan agreement to upgrade the port.<\/p>\n","protected":false},"excerpt":{"rendered":"

Construction outfit Gharably Integrated Engineering Company (GIECO) is set to receive a huge loan to develop the Abu Qir port, it said in a statement (pdf) last week. A syndicate of local state-owned and private sector banks have agreed to lend the company EGP 12.3 bn in what National Bank of Egypt Chairman Hisham Okasha […]<\/p>\n","protected":false},"author":1,"featured_media":557049,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7274],"tags":[7106,88,72,248],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-557048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt","tag-debt-watch","tag-enterpriseam","tag-national-bank-of-egypt","wpautop","entry"],"acf":{"mongo_id":"9788a530-8979-48c3-b7a0-c641ec22a9db","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/9\/55.jpg","photo_position":"above","related_issue":[557033],"teaser":"","voice_url":""},"yoast_head":"\nConstruction firm bags EGP 12 bn loan to finance Abu Qir port development - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/construction-firm-bags-egp-12-bn-loan-to-finance-abu-qir-port-development\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Construction firm bags EGP 12 bn loan to finance Abu Qir port development\" \/>\n<meta property=\"og:description\" content=\"Construction outfit Gharably Integrated Engineering Company (GIECO) is set to receive a huge loan to develop the Abu Qir port, it said in a statement (pdf) last week. A syndicate of local state-owned and private sector banks have agreed to lend the company EGP 12.3 bn in what National Bank of Egypt Chairman Hisham Okasha […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/construction-firm-bags-egp-12-bn-loan-to-finance-abu-qir-port-development\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-05T04:00:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/55.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/construction-firm-bags-egp-12-bn-loan-to-finance-abu-qir-port-development\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/construction-firm-bags-egp-12-bn-loan-to-finance-abu-qir-port-development\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Construction firm bags EGP 12 bn loan to finance Abu Qir port development\",\"datePublished\":\"2021-09-05T04:00:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/construction-firm-bags-egp-12-bn-loan-to-finance-abu-qir-port-development\/\"},\"wordCount\":205,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/construction-firm-bags-egp-12-bn-loan-to-finance-abu-qir-port-development\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/55.jpg?fit=%2C&ssl=1\",\"keywords\":[\"debt\",\"debt watch\",\"EnterpriseAM\",\"National Bank of Egypt\"],\"articleSection\":[\"DEBT WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/construction-firm-bags-egp-12-bn-loan-to-finance-abu-qir-port-development\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/construction-firm-bags-egp-12-bn-loan-to-finance-abu-qir-port-development\/\",\"name\":\"Construction firm bags EGP 12 bn loan to finance Abu Qir port development - 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The company received offers from consortiums led by the National Bank of Egypt (NBE) and Kuwait National Bank, according to the sources, who\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634160,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/08\/abu-qir-fertilizers-in-talks-for-an-egp-3-5-bn-loan-lists-expansion-plans\/","url_meta":{"origin":557048,"position":4},"title":"Abu Qir Fertilizers in talks for an EGP 3.5 bn loan, lists expansion plans","author":"enterpriseam admin","date":"8 January 2018","format":false,"excerpt":"Abu Qir Fertilizers is in talks with a consortium of local banks over a USD-denominated loan worth EGP 3.5 bn, according to a bourse disclosure. The funding will be used to clear bottlenecks in acid and nitrate plants. The company is also expected to inaugurate its industrial waste treatment project\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567780,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/07\/whos-in-the-market-for-debt-3\/","url_meta":{"origin":557048,"position":5},"title":"Who\u2019s in the market for debt?","author":"enterpriseam admin","date":"7 December 2020","format":false,"excerpt":"Egypt-based regional soybean crusher Oilex has upped its EGP 2.4 bn syndicated loan by an additional EGP 2 bn to finance working capital, Al Mal reports, citing informed sources. The company took the original loan in 2018 from a syndicate of five local banks including the National Bank of Egypt,\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=557048"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557048\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/557033"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/557049"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=557048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=557048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=557048"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=557048"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=557048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}