Five banks to provide EGP2.3bn to Al Ghurair’s Canal Sugar
A consortium of five banks is set to sign a bridge-loan agreement with Canal Sugar, partially owned by UAE’s Al Ghurair Group, worth EGP2.3bn. The consortium includes National Bank of Egypt, NBK-Egypt, QNB-Alahli, AlexBank, and one other bank that has yet to be announced. The loan will be used to fund its USD1bn sugar plant.
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