{"id":612428,"date":"2023-12-21T00:00:00","date_gmt":"2023-12-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/this-evening-european-consortium-international-lenders-ink-financing-agreements-for-damietta-cargo-terminal-ii\/"},"modified":"2023-12-21T00:00:00","modified_gmt":"2023-12-21T00:00:00","slug":"this-evening-european-consortium-international-lenders-ink-financing-agreements-for-damietta-cargo-terminal-ii","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/this-evening-european-consortium-international-lenders-ink-financing-agreements-for-damietta-cargo-terminal-ii\/","title":{"rendered":"THIS EVENING: European consortium + International lenders ink financing agreements for Damietta cargo terminal II"},"content":{"rendered":"

Good afternoon, ladies and gentlemen, and a very happy THURSDAY. <\/strong>The weekend is finally just around the corner, although we\u2019ll all be keeping our eyes on the outcome of the Central Bank of Egypt\u2019s monetary policy meeting later this evening.<\/p>\n

THE BIG STORY TODAY<\/strong><\/p>\n

European consortium, international lenders sign contracts for Damietta <\/strong>cargo terminal II: <\/strong>A consortium of Hapag-Lloyd, Eurogate Terminals, Contship Italia, alongside HSBC Egypt, signed contracts today to finance development of Damietta Port\u2019s second container terminal, according to a Transport Ministry statement<\/a>. <\/p>\n

Our friends at HSBC Egypt acted as the agent bank for the international lenders that will <\/strong>provide <\/strong>a USD 455 mn<\/a><\/strong> financing package<\/strong> for the project. The multilateral banking syndicate includes the EBRD, IFC, Asian Infrastructure Investment Bank (AIIB), development finance player Deutsche Investitions und Entwicklungsgesellschaft (DEG), and the French Development Agency\u2019s private-sector investment arm Proparco.<\/p>\n

What we know: <\/strong>The terminal will have a final capacity of 3.5 mn TEUs and it\u2019s expected to begin operating by 2024, the ministry said previously.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

The Houthis are still leading the conversation in the international business press this afternoon.<\/strong> In a televised speech, Houthi leader Abdul Malk al-Houthi warned that his forces will retaliate if the US decides to target Yemen. Their recent attacks<\/a> on ships passing the Red Sea are unlikely to let up any time soon despite the US forming a maritime protection coalition entitled \u201cOperation Prosperity Guardian\u201d which includes Britain, Bahrain, Canada, Denmark, France, Italy, the Netherlands, Norway, Seychelles and Spain, along with the US, after cargo worth more than USD 80 bn had been rerouted around Africa to avoid the waterway. (Reuters<\/a> | CNBC<\/a>). <\/p>\n

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INTERESTED IN APPLYING?<\/strong> To apply for the position, drop us a line at jobs@enterprisemea.com and mention \u201cEnterprise Advisory\u201d in your subject line. Please send a solid cover letter telling us a bit about who you are and why you\u2019re a good fit for our team. We want to see your CV, but the most important thing is a cover letter that makes us want to pick up the phone and give you a call.<\/p>\n

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