{"id":598669,"date":"2019-05-30T04:04:54","date_gmt":"2019-05-30T04:04:54","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/30\/qalaa-holdings-completes-final-funding-round-for-erc\/"},"modified":"2019-05-30T04:04:54","modified_gmt":"2019-05-30T04:04:54","slug":"qalaa-holdings-completes-final-funding-round-for-erc","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/30\/qalaa-holdings-completes-final-funding-round-for-erc\/","title":{"rendered":"Qalaa Holdings completes final funding round for ERC"},"content":{"rendered":"

Qalaa Holdings has completed the final USD 120 mn funding round for its Egyptian Refining Company (ERC), including a capital increase of USD 70 mn and loans at a combined total of USD 50 mn, Al Mal reported<\/a>. The funding will be used to restructure its debts, Chairman Ahmed Heikal said. The project, which has drawn a total of USD 4.4 bn in investments, is 99.6% complete and is expected to come online within the coming months.<\/p>\n","protected":false},"excerpt":{"rendered":"

Qalaa Holdings has completed the final USD 120 mn funding round for its Egyptian Refining Company (ERC), including a capital increase of USD 70 mn and loans at a combined total of USD 50 mn, Al Mal reported. The funding will be used to restructure its debts, Chairman Ahmed Heikal said. The project, which has […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[9298],"tags":[2372,2391,93,72,613],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-598669","post","type-post","status-publish","format-standard","hentry","category-banking-finance","tag-banking-finance","tag-egyptian-refining-company","tag-energy","tag-enterpriseam","tag-qalaa-holdings","wpautop","entry"],"acf":{"mongo_id":"0dea8fd5-40dc-4ea7-8d0f-77fde0896cc6","is_powered_by":true,"section_story_id":"6060c24d-67ce-4c22-9f18-c54de58110cd","story_type":"1","photo_url":"","photo_position":"above","related_issue":[598635],"teaser":"","voice_url":""},"yoast_head":"\nQalaa Holdings completes final funding round for ERC - 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\/2019\/05\/30\/qalaa-holdings-completes-final-funding-round-for-erc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Qalaa Holdings completes final funding round for ERC\" \/>\n<meta property=\"og:description\" content=\"Qalaa Holdings has completed the final USD 120 mn funding round for its Egyptian Refining Company (ERC), including a capital increase of USD 70 mn and loans at a combined total of USD 50 mn, Al Mal reported. The funding will be used to restructure its debts, Chairman Ahmed Heikal said. The project, which has […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/30\/qalaa-holdings-completes-final-funding-round-for-erc\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-30T04:04:54+00:00\" \/>\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<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/30\/qalaa-holdings-completes-final-funding-round-for-erc\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/30\/qalaa-holdings-completes-final-funding-round-for-erc\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Qalaa Holdings completes final funding round for ERC\",\"datePublished\":\"2019-05-30T04:04:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/30\/qalaa-holdings-completes-final-funding-round-for-erc\/\"},\"wordCount\":80,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"BANKING + FINANCE\",\"Egyptian Refining Company\",\"energy\",\"EnterpriseAM\",\"Qalaa Holdings\"],\"articleSection\":[\"Banking + Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/30\/qalaa-holdings-completes-final-funding-round-for-erc\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/30\/qalaa-holdings-completes-final-funding-round-for-erc\/\",\"name\":\"Qalaa Holdings completes final funding round for ERC - 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ERC is a major public private partnership (PPP) megaproject led by Qalaa, and is scheduled to come online later this year.","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":595624,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/01\/egyptian-refining-company-suez-cement-arabian-cement-sign-petroleum-coke-supply-agreements\/","url_meta":{"origin":598669,"position":1},"title":"Egyptian Refining Company, Suez Cement, Arabian Cement sign petroleum coke supply agreements","author":"enterpriseam admin","date":"1 August 2019","format":false,"excerpt":"Qalaa\u2019s ERC signs pet coke supply agreements with Suez Cement, Arabian Cement: Qalaa Holdings\u2019 Egyptian Refining Company (ERC) has inked agreements with Suez Cement and Arabian Cement to supply 500k tonnes of petroleum coke each year. Arabian Cement has agreed (pdf) to purchase 300k tonnes a year while Suez Cement\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/3\/14.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":628624,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/09\/qalaa-considering-increasing-stake-in-erc\/","url_meta":{"origin":598669,"position":2},"title":"Qalaa considering increasing stake in ERC","author":"enterpriseam admin","date":"9 May 2018","format":false,"excerpt":"Qalaa eying additional stake in Egyptian Refining Company: Qalaa Holdings announced yesterday that it is looking to increase its ownership of its greenfield Egyptian Refining Company (ERC) by acquiring or subscribing to additional shares in its subsidiary Orient Investment Properties, Qalaa said in a regulatory filing (pdf). ERC recently completed\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":633036,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/26\/qalaa-holdings-on-track-to-launch-trial-runs-at-erc-in-june\/","url_meta":{"origin":598669,"position":3},"title":"Qalaa Holdings on track to launch trial runs at ERC in June","author":"enterpriseam admin","date":"26 February 2018","format":false,"excerpt":"Qalaa Holdings is on track to launch trial operations at its Egyptian Refining Company complex in Mostorod by the end of June 2018, the company said in a bourse statement on Sunday (pdf). Qalaa confirmed that ERC took on new debt finance and equity commitments valued at around USD 500\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621767,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/18\/qalaa-promotes-its-egyptian-refining-company-at-african-forum\/","url_meta":{"origin":598669,"position":4},"title":"Qalaa promotes its Egyptian Refining Company at African forum","author":"enterpriseam admin","date":"18 November 2018","format":false,"excerpt":"Qalaa Holdings showcased its USD 4.3 bn petroleum refinery Egyptian Refining Company (ERC) as a case study for increasing the attractiveness of private investment through policy reform at the African Investment Forum in Johannesburg earlier this month, according to a press release (pdf). \u201cThis ability to access financing from development\u2026","rel":"","context":"In "Other Business News of Note"","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":603363,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/21\/egyptian-refining-company-usd-4-bn-facility-to-come-online-in-june\/","url_meta":{"origin":598669,"position":5},"title":"Egyptian Refining Company USD 4 bn facility to come online in June","author":"enterpriseam admin","date":"21 April 2019","format":false,"excerpt":"Qalaa\u2019s USD 4.3 bn Egyptian Refining Company facility will begin commercial production in June, running at 60% capacity and ramping up to full production by September, Qalaa Holdings Chairman Ahmed Heikal told Al Masry Al Youm. 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