{"id":626559,"date":"2018-07-05T04:02:14","date_gmt":"2018-07-05T04:02:14","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/05\/chinese-lenders-make-usd-3-1-bn-in-funding-available-for-carbon-holdings-usd-10-9-bn-petrochem-complex\/"},"modified":"2018-07-05T04:02:14","modified_gmt":"2018-07-05T04:02:14","slug":"chinese-lenders-make-usd-3-1-bn-in-funding-available-for-carbon-holdings-usd-10-9-bn-petrochem-complex","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/05\/chinese-lenders-make-usd-3-1-bn-in-funding-available-for-carbon-holdings-usd-10-9-bn-petrochem-complex\/","title":{"rendered":"Chinese lenders make USD 3.1 bn in funding available for Carbon Holdings\u2019 USD 10.9 bn petrochem complex"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Chinese lenders make USD 3.1 bn in funding available for Carbon Holdings\u2019 USD 10.9 bn petrochem complex:<\/strong> A group of unnamed Chinese lenders have made USD 3.1 bn in backup funding available for Carbon Holdings\u2019 Tahrir Petrochemicals Corporation (TPC), Suez Canal Economic Zone (SCZone) deputy head Mahfouz Taha <a href=\"http:\/\/almalnews.com\/Story\/381336\/14\/%D8%AA%D9%85%D9%88%D9%8A%D9%84-%D8%A7%D8%AD%D8%AA%D9%8A%D8%A7%D8%B7%D9%89-%D9%85%D9%86-%D8%A7%D9%84%D8%B5%D9%8A%D9%86-%D8%A8%D9%82%D9%8A%D9%85%D8%A9-3-1-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D9%85%D8%B4%D8%B1%D9%88%D8%B9-%C2%AB%D9%83%D8%A7%D8%B1%D8%A8%D9%88%D9%86-%D9%84%D9%84%D8%A8%D8%AA%D8%B1%D9%88%D9%83%D9%8A%D9%85%D8%A7%D9%88%D9%8A%D8%A7%D8%AA%C2%BB\">tells Al Mal<\/a>. According to Taha, TPC will be able to dip into these reserves if other funding is delayed or falls through. The USD 10.9 bn petrochemicals facility is being financed by a USD 5.4 bn debt package through institutions such as UK Export Finance, Germany\u2019s Euler Hermes, and the US Overseas Private Investment Corporation.<\/p>\n<p><strong>TPC is expected to reach financial close in 3Q2018<\/strong>. Principal construction, which should begin before year\u2019s end, should take about four years from the initial drawdown of funds, with trial operations set to start within 38 months of the start of construction. The world-scale petrochemicals facility is expected to deliver USD 8 bn in projected annual exports and produce raw materials that can be used in a variety of industries.<\/p>\n<p><strong>FT singles out TPC as an example on where FDI should be going:<\/strong> Egypt should be focused on \u201cprosaic industrial investment\u201d that can open up more avenues for job creation, <a href=\"https:\/\/www.ft.com\/content\/6dc3a858-7f78-11e8-bc55-50daf11b720d\">the FT says in an opinion piece<\/a>. Egypt has been on the right track, with measures and developments that have helped sustain its performance throughout the current EM sell-off, such as fuel subsidy cuts, cooling inflation rates, rebounding tourism, and high interests that \u201chave attracted hot money into local currency bonds.\u201d Going forward, however, the country needs to focus attracting investments to key industries to ensure a more sustainable and organic type of growth. The publication sees projects such as Carbon Holdings\u2019 Tahrir Petrochemicals Complex as \u201cthe kind of key intermediate industry that has helped drive economic growth in Asian \u201ctigers\u201d such as Korea and Taiwan.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chinese lenders make USD 3.1 bn in funding available for Carbon Holdings\u2019 USD 10.9 bn petrochem complex: A group of unnamed Chinese lenders have made USD 3.1 bn in backup funding available for Carbon Holdings\u2019 Tahrir Petrochemicals Corporation (TPC), Suez Canal Economic Zone (SCZone) deputy head Mahfouz Taha tells Al Mal. According to Taha, TPC [&hellip;]<\/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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-626559","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"a3795e0a-f49a-47e2-8dea-97c6fac91b20","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[626551],"teaser":"","voice_url":""},"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>Chinese lenders make USD 3.1 bn in funding available for Carbon Holdings\u2019 USD 10.9 bn petrochem complex - 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\/2018\/07\/05\/chinese-lenders-make-usd-3-1-bn-in-funding-available-for-carbon-holdings-usd-10-9-bn-petrochem-complex\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chinese lenders make USD 3.1 bn in funding available for Carbon Holdings\u2019 USD 10.9 bn petrochem complex\" \/>\n<meta property=\"og:description\" content=\"Chinese lenders make USD 3.1 bn in funding available for Carbon Holdings\u2019 USD 10.9 bn petrochem complex: A group of unnamed Chinese lenders have made USD 3.1 bn in backup funding available for Carbon Holdings\u2019 Tahrir Petrochemicals Corporation (TPC), Suez Canal Economic Zone (SCZone) deputy head Mahfouz Taha tells Al Mal. According to Taha, TPC [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/07\/05\/chinese-lenders-make-usd-3-1-bn-in-funding-available-for-carbon-holdings-usd-10-9-bn-petrochem-complex\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-05T04:02:14+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\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/07\/05\/chinese-lenders-make-usd-3-1-bn-in-funding-available-for-carbon-holdings-usd-10-9-bn-petrochem-complex\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/07\/05\/chinese-lenders-make-usd-3-1-bn-in-funding-available-for-carbon-holdings-usd-10-9-bn-petrochem-complex\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Chinese lenders make USD 3.1 bn in funding available for Carbon Holdings\u2019 USD 10.9 bn petrochem complex\",\"datePublished\":\"2018-07-05T04:02:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/07\/05\/chinese-lenders-make-usd-3-1-bn-in-funding-available-for-carbon-holdings-usd-10-9-bn-petrochem-complex\/\"},\"wordCount\":320,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/07\/05\/chinese-lenders-make-usd-3-1-bn-in-funding-available-for-carbon-holdings-usd-10-9-bn-petrochem-complex\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/07\/05\/chinese-lenders-make-usd-3-1-bn-in-funding-available-for-carbon-holdings-usd-10-9-bn-petrochem-complex\/\",\"name\":\"Chinese lenders make USD 3.1 bn in funding available for Carbon Holdings\u2019 USD 10.9 bn petrochem complex - 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A Carbon Holdings official clarified to\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":603086,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/15\/carbon-begins-construction-of-usd-11-bn-tahrir-petchem-complex\/","url_meta":{"origin":626559,"position":1},"title":"Carbon begins construction of USD 11 bn Tahrir Petchem Complex","author":"enterpriseam admin","date":"15 April 2019","format":false,"excerpt":"Carbon breaks ground on USD 11 bn Tahrir Petchem Complex: Carbon Holdings has broken ground on its USD 10.9 bn Tahrir Petrochemicals Complex (TPC) in Ain Sokhna\u2019s economic zone, Suez Canal Authority head Mohab Mamish said in a statement. Carbon received the land last month and expects to complete the\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":627002,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/17\/carbon-holdings-to-reach-financial-close-on-tpc-before-years-end-in-talks-with-various-equity-investors-over-funding\/","url_meta":{"origin":626559,"position":2},"title":"Carbon Holdings to reach financial close on TPC before year\u2019s end, in talks with various equity investors over funding","author":"enterpriseam admin","date":"17 July 2018","format":false,"excerpt":"Carbon Holdings expects to reach financial close on its USD 10.9 bn Tahrir Petrochemicals Complex (TPC) by the end of the year, Managing Director for Environment and Sustainability, Mohamed Hassan, tells Bloomberg in an interview. 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The company issued a statement yesterday (pdf) with a full rundown on a Saturday evening ceremony that saw it sign\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":604666,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/10\/egypts-carbon-holdings-secures-usd-1-25-bn-for-petrochemical-complex\/","url_meta":{"origin":626559,"position":5},"title":"Egypt\u2019s Carbon Holdings secures USD 1.25 bn for petrochemical complex","author":"enterpriseam admin","date":"10 December 2018","format":false,"excerpt":"INVESTMENT WATCH- Carbon Holdings has secured another USD 1.25 bn in financing to build its massive Tahrir petrochemicals complex after signing a contract with the Lagos-based Africa Finance Corporation, Reuters reports. Carbon has now raised c. USD 5.4 bn for the USD 10.9 bn Tahrir Petrochemicals Company, according to a\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/626559","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=626559"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/626559\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/626551"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=626559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=626559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=626559"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=626559"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=626559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}