ETHYDCO $75 million loan facility

Overview:

• The Egyptian Ethylene and Derivatives Company (ETHYDCO) secured a $75 million loan facility from the African Export-Import Bank (Afreximbank) to support the expansion of Egypt’s petrochemical sector.
• The facility will be used to complement the closure of a $1.25 billion syndicated facility initiated in 2012 by a consortium of 18 Egyptian Banks.
• It will be used to part-finance the $1.925 billion ETHYDCO Complex, a greenfield project between the Egyptian Petrochemicals Holding Company, Egyptian Natural Gas Company, Sidi Kerir Petrochemicals and several Egyptian banks.

Jon Moore - Journalist