{"id":628624,"date":"2018-05-09T04:19:01","date_gmt":"2018-05-09T04:19:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/09\/qalaa-considering-increasing-stake-in-erc\/"},"modified":"2018-05-09T04:19:01","modified_gmt":"2018-05-09T04:19:01","slug":"qalaa-considering-increasing-stake-in-erc","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/09\/qalaa-considering-increasing-stake-in-erc\/","title":{"rendered":"Qalaa considering increasing stake in ERC"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Qalaa eying additional stake in Egyptian Refining Company:<\/strong> 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 <a href=\"http:\/\/egx.com.eg\/downloads\/Bulletins\/216401_1.pdf\">regulatory filing (pdf)<\/a>. ERC recently completed a <a href=\"https:\/\/enterprise.press\/stories\/2018\/02\/22\/qalaas-erc-completes-financial-restructuring-as-it-drives-to-completion\/\">project finance restructuring<\/a> that saw the company take on new loans and equity commitments valued at around USD 500 mn, bringing the 4.2 mn tonne-capacity refinery\u2019s overall cost to around USD 4.5 bn. The refinery is expected to go <a href=\"https:\/\/enterprise.press\/stories\/2018\/03\/06\/erc-to-recover-costs-from-delay-in-refinery-project-in-six-years\/\">online by the end of 2018<\/a> or early 2019, with trial operations set to start as early as next month.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 a project finance restructuring that [&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-628624","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"56b7c528-1be6-4491-90e0-66ce2f321a94","order":"0","is_powered_by":true,"section_story_id":"9f8559d1-daf5-4636-93d8-7a0a32531f28","story_type":"1","photo_url":"","photo_position":"above","related_issue":[628613],"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>Qalaa considering increasing stake in 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\/2018\/05\/09\/qalaa-considering-increasing-stake-in-erc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Qalaa considering increasing stake in ERC\" \/>\n<meta property=\"og:description\" content=\"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 a project finance restructuring that [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/09\/qalaa-considering-increasing-stake-in-erc\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-09T04:19:01+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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/09\/qalaa-considering-increasing-stake-in-erc\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/09\/qalaa-considering-increasing-stake-in-erc\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Qalaa considering increasing stake in ERC\",\"datePublished\":\"2018-05-09T04:19:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/09\/qalaa-considering-increasing-stake-in-erc\/\"},\"wordCount\":112,\"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\/05\/09\/qalaa-considering-increasing-stake-in-erc\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/09\/qalaa-considering-increasing-stake-in-erc\/\",\"name\":\"Qalaa considering increasing stake in ERC - 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Arabian Cement has agreed (pdf) to purchase 300k tonnes a year while Suez Cement\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\/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":628624,"position":2},"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). With that, all the plant\u2019s units are now operational, the firm said of its flagship project, which has drawn in USD\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":598669,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/30\/qalaa-holdings-completes-final-funding-round-for-erc\/","url_meta":{"origin":628624,"position":3},"title":"Qalaa Holdings completes final funding round for ERC","author":"enterpriseam admin","date":"30 May 2019","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","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":633036,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/26\/qalaa-holdings-on-track-to-launch-trial-runs-at-erc-in-june\/","url_meta":{"origin":628624,"position":4},"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 &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":600100,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/20\/qalaa-will-not-sell-shares-in-arc-and-taqa-arabia-when-they-ipo\/","url_meta":{"origin":628624,"position":5},"title":"Qalaa will not sell shares in ARC and TAQA Arabia when they IPO","author":"enterpriseam admin","date":"20 January 2019","format":false,"excerpt":"CLARIFICATION- Qalaa will not sell shares in ARC and TAQA Arabia when they IPO: Qalaa Holdings is planning to go ahead with an IPO of Arab Refining Company (ARC, the largest shareholder of the Egyptian Refining Company) and TAQA Arabia as early as 2020, but will not sell down its\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\/628624","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=628624"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/628624\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/628613"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=628624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=628624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=628624"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=628624"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=628624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}