Five banks to sign EGP2.4bn loan agreement with Oilex
A consortium of five banks is expected to sign a EGP2.4bn syndicated loan agreement with the International Oil Extraction Co. (Oilex), which will use the loan to partially finance the construction of its 80,000 sqm industrial complex in Sadat City, with an investment cost of EGP3bn. The loan is arranged by National Bank of Egypt (NBE), and the consortium includes First Abu Dhabi Bank-Egypt (FAB), Banque du Caire, Arab Bank and Suez Canal Bank.
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