Arabian Cement Company [ARCC.CA] has secured a loan worth EGP231mn from the National Bank of Egypt (NBE) with a maturity of seven years to fully finance its expansion plans. It is worth mentioning that ARCC is engaging in three cost efficiency projects including: i) installing second coal mill; ii) establishing new mechanical crane (Bucket elevator); and iii) establishing a new technical system for cement mills (Bypass dust).
Arabian Cement (Egypt): EGP8.91 as of 11 Jul 2017, Rating: Buy, TP: EGP10.00/share, MCap: USD189mn, ARCC EY/ARCC.CA