{"id":601176,"date":"2019-02-20T03:45:19","date_gmt":"2019-02-20T03:45:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/20\/cib-to-arrange-usd-80-mn-loan-to-qalaas-erc\/"},"modified":"2019-02-20T03:45:19","modified_gmt":"2019-02-20T03:45:19","slug":"cib-to-arrange-usd-80-mn-loan-to-qalaas-erc","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/20\/cib-to-arrange-usd-80-mn-loan-to-qalaas-erc\/","title":{"rendered":"CIB to arrange USD 80 mn loan to Qalaa\u2019s ERC"},"content":{"rendered":"

CIB is arranging a USD 80 mn loan to Qalaa Holdings\u2019 Egyptian Refining Company (ERC) with a tenor of one year, unnamed sources told Reuters\u2019 Arabic service<\/a>. ERC is a major public private partnership (PPP) megaproject led by Qalaa, and is scheduled to come online later this year.<\/p>\n","protected":false},"excerpt":{"rendered":"

CIB is arranging a USD 80 mn loan to Qalaa Holdings\u2019 Egyptian Refining Company (ERC) with a tenor of one year, unnamed sources told Reuters\u2019 Arabic service. ERC is a major public private partnership (PPP) megaproject led by Qalaa, and is scheduled to come online later this year.<\/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":[204,2372,2391,72,7087,125,131,404,613],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-601176","post","type-post","status-publish","format-standard","hentry","category-banking-finance","tag-banking","tag-banking-finance","tag-egyptian-refining-company","tag-enterpriseam","tag-finance","tag-investment-watch","tag-manufacturing","tag-public-private-partnership","tag-qalaa-holdings","wpautop","entry"],"acf":{"mongo_id":"719680ac-3cbf-4780-b008-2d6b67a74d40","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[601137],"teaser":"","voice_url":""},"yoast_head":"\nCIB to arrange USD 80 mn loan to Qalaa\u2019s 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\/02\/20\/cib-to-arrange-usd-80-mn-loan-to-qalaas-erc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIB to arrange USD 80 mn loan to Qalaa\u2019s ERC\" \/>\n<meta property=\"og:description\" content=\"CIB is arranging a USD 80 mn loan to Qalaa Holdings\u2019 Egyptian Refining Company (ERC) with a tenor of one year, unnamed sources told Reuters\u2019 Arabic service. ERC is a major public private partnership (PPP) megaproject led by Qalaa, and is scheduled to come online later this year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/20\/cib-to-arrange-usd-80-mn-loan-to-qalaas-erc\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-20T03:45:19+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\/02\/20\/cib-to-arrange-usd-80-mn-loan-to-qalaas-erc\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/20\/cib-to-arrange-usd-80-mn-loan-to-qalaas-erc\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"CIB to arrange USD 80 mn loan to Qalaa\u2019s ERC\",\"datePublished\":\"2019-02-20T03:45:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/20\/cib-to-arrange-usd-80-mn-loan-to-qalaas-erc\/\"},\"wordCount\":57,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"banking\",\"BANKING + FINANCE\",\"Egyptian Refining Company\",\"EnterpriseAM\",\"Finance\",\"investment watch\",\"Manufacturing\",\"public-private partnership\",\"Qalaa Holdings\"],\"articleSection\":[\"Banking + Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/20\/cib-to-arrange-usd-80-mn-loan-to-qalaas-erc\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/20\/cib-to-arrange-usd-80-mn-loan-to-qalaas-erc\/\",\"name\":\"CIB to arrange USD 80 mn loan to Qalaa\u2019s ERC - 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The funding will be used to restructure its debts, Chairman Ahmed Heikal\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":628624,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/09\/qalaa-considering-increasing-stake-in-erc\/","url_meta":{"origin":601176,"position":1},"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":621767,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/18\/qalaa-promotes-its-egyptian-refining-company-at-african-forum\/","url_meta":{"origin":601176,"position":2},"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":633036,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/26\/qalaa-holdings-on-track-to-launch-trial-runs-at-erc-in-june\/","url_meta":{"origin":601176,"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":595624,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/01\/egyptian-refining-company-suez-cement-arabian-cement-sign-petroleum-coke-supply-agreements\/","url_meta":{"origin":601176,"position":4},"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":595038,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/15\/qalaa-declares-all-units-at-erc-are-a-go\/","url_meta":{"origin":601176,"position":5},"title":"Qalaa declares all units at ERC are a go","author":"enterpriseam admin","date":"15 September 2019","format":false,"excerpt":"Qalaa declares all units at ERC are a go: The Egyptian Refining Company (ERC) has successfully begun hydrocracker operations, Qalaa Holdings said in a bourse filing on Thursday (pdf). 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