{"id":611839,"date":"2023-12-13T00:00:00","date_gmt":"2023-12-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/13\/soda-ash-cash\/"},"modified":"2023-12-13T00:00:00","modified_gmt":"2023-12-13T00:00:00","slug":"soda-ash-cash","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/13\/soda-ash-cash\/","title":{"rendered":"Soda ash cash"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The government\u2019s soda ash project is still a go:<\/strong> The state-ownedcompany leading a project to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0cd58af2-675a-444f-b309-dbecca21d0d9\" style=\"\" rel=\"noopener\">build a soda ash complex<\/a> wants to obtain a USD 450 mn loan to fund the project, reports <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/yxkb8x5w\" style=\"\" rel=\"noopener\">Asharq Business<\/a>, citing two sources it says are in the know. The Egyptian Soda Ash Company is in talks with a syndicate of local and international banks led by Banque Misr and the National Bank of Egypt (NBE) for the financing, which would fund the construction of the planned complex in New Alamein.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve finally got a timeline and a cost estimate: <\/strong>The complex is estimated to cost a total of USD 685 mn to build and have an annual capacity of 600k tonnes. Construction is expected to get underway sometime in 2024 and take three years to complete.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who owns what<\/strong> \u2014 according to <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/y8pbt9u2\" style=\"\" rel=\"noopener\">Youm7<\/a>:<\/p>\n<ul>\n<li><strong>The company is primarily state-led<\/strong>, counting the Egyptian Petrochemical Holding Company, Chemical Industries Holding Company, and the military\u2019s Arab Organization for Industrialization among its shareholders.<\/li>\n<li><strong>With some input from the private sector: <\/strong>A 45% stake in the firm is held between private-sector firms <a target=\"_blank\" href=\"https:\/\/www.polyservegroup.com\/index\" style=\"\" rel=\"noopener\">Polyserve<\/a>, AMN Industrial Investment, and <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/life-chemicals-group\/\" style=\"\" rel=\"noopener\">Life Chemicals Group<\/a> <strong>.<\/strong><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No, not that soda:<\/strong> Soda ash \u2014 AKA sodium carbonate \u2014 is a common chemical compound used in the manufacturing of several products such as glass, cleaning detergents, pharma products, fertilizers, and paper.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But, why does the state care about soda ash?<\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5f6f562b-f9ac-4c66-9dc8-a11fa7658522\" style=\"\" rel=\"noopener\">Localizing<\/a> the production of soda ash helps to localize other related and feeder industries, which in turn would reduce our import reliance and FX outflows.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government\u2019s soda ash project is still a go: The state-ownedcompany leading a project to build a soda ash complex wants to obtain a USD 450 mn loan to fund the project, reports Asharq Business, citing two sources it says are in the know. The Egyptian Soda Ash Company is in talks with a syndicate [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":611840,"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":[1291,204,576,2219,10585,88,4130,11863,72,7087,7196,131,7307,248,705],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-611839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-arab-organization-for-industrialization","tag-banking","tag-banque-misr","tag-chemical-industries-holding-company","tag-chemicals","tag-debt-watch","tag-egyptian-petrochemical-holding-company","tag-egyptian-soda-ash-company","tag-enterpriseam","tag-finance","tag-industry","tag-manufacturing","tag-military","tag-national-bank-of-egypt","tag-petrochemicals","wpautop","entry"],"acf":{"mongo_id":"aed36bed-e276-4e64-b33b-c01ef19175ea","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/850.jpg","photo_position":"above","homepage_title":"","full_issue_title":"State eyes USD 450 mn loan for soda ash complex","related_issue":[611828],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.5392b32f-1aa3-40b3-85e7-25c1c438690c.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Soda ash cash - 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\/2023\/12\/13\/soda-ash-cash\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Soda ash cash\" \/>\n<meta property=\"og:description\" content=\"The government\u2019s soda ash project is still a go: The state-ownedcompany leading a project to build a soda ash complex wants to obtain a USD 450 mn loan to fund the project, reports Asharq Business, citing two sources it says are in the know. 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Some USD 326 mn will be used to\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/233.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557572,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/cira-to-borrow-egp-260-mn-to-fund-capex\/","url_meta":{"origin":611839,"position":3},"title":"CIRA to borrow EGP 260 mn to fund capex","author":"enterpriseam admin","date":"23 September 2021","format":false,"excerpt":"CIRA will borrow EGP 260 mn from an undisclosed Egyptian bank to fund upcoming projects, it announced in a bourse filing (pdf) yesterday after the board greenlit the decision. The statement doesn\u2019t provide further information and a company spokesperson was not immediately available for comment.What we know about the CIRA\u2019s\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/329.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":609209,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/01\/sky-reliance-logistics-in-talks-with-bdc-to-fund-multipurpose-terminal-at-east-port-said-port-plus-banque-misr-land-sale\/","url_meta":{"origin":611839,"position":4},"title":"Sky, Reliance Logistics in talks with BdC to fund multipurpose terminal at East Port Said port. Plus: Banque Misr land sale","author":"enterpriseam admin","date":"1 November 2023","format":false,"excerpt":"Plus: The Egyptian Holding Company for Silos and Storage wants to borrow EGP 5 bn to fund silo expansion","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/11.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557751,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/30\/egyptian-womens-empowerment-project-attracts-usd-8-mn-in-us-funding\/","url_meta":{"origin":611839,"position":5},"title":"Egyptian women\u2019s empowerment project attracts USD 8 mn in US funding","author":"enterpriseam admin","date":"30 September 2021","format":false,"excerpt":"Egyptian women\u2019s empowerment project attracts USD 8 mn in US funding: USAID has invested USD 8 mn over the past eight years in the Safe Cities project, which aims to prevent violence against women and girls, US Charg\u00e9 D\u2019Affaires Nicole Shampaine announced during an event to celebrate the completion of\u2026","rel":"","context":"In &quot;Kudos&quot;","block_context":{"text":"Kudos","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/kudos\/"},"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\/611839","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=611839"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/611839\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/611828"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/611840"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=611839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=611839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=611839"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=611839"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=611839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}