KIMA to sign debt agreement to fund plants’ rehabilitation, expansion projects
KIMA is set to sign a debt agreement with a consortium of banks on 5 April to fund its plants’ rehabilitation and expansion projects. It is worth noting that the increase in the investment cost of the rehabilitation project and the establishment of the new plant (from EGP6bn to EGP11.5bn) has pushed management to increase the debt financing portion.
Egyptian Chemical Industries (KIMA): EGP8.16 as of 2 Apr. 2018, Rating: Sell, TP: EGP6.10/share, MCap: USD293mn, EGCH EY/EGCH.CA
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