Fisal Bank, Audi Bank, United Bank and National Bank of Greece acquired a share of 450 million EGP in the financing of 1.1 Billion EGP. Arab African International bank was Mandated Lead Arranger, Facility & Security Agent for the sake of ANCC, one of ASEC CEMENT companies, as they financed 59.6% of the total investment cost for the new factory that will be located in Menya governorate with a production capacity of 1.6 million tons of clinker, the other banks participated as follows:
Fisal Bank: 200million EGP
Audi Bank: 100 million EGP
United Bank and National Bank of Greece: 150 million EGP
Arab African International Bank: 312 million EGP.
The remaining amount will be distributed among Cairo and Alex Bank. The 7 Banks signed on Thursday the final agreement that was designed in accordance with the Equator principles which evaluate and manage the social and environmental risks related to financing the project.