Orascom Construction reportedly seeking EGP13bn in financing to bid for Hamrawein clean coal power plant
Orascom Construction (OC) is reportedly in talks with a number of local banks to secure EGP13bn to finance its bid to build a 2-3.3 GW clean coal power plant in Hamrawein under the EPC+finance mechanism, according to an anonymous source. The company has reportedly solicited offers from NBE, Banque Misr, Banque du Caire, CIB, ADIB, AAIB, QNB, and HSBC for a syndicated facility. (Enterprise, Al Mal) Orascom Construction Limited: EGP86.33 as of 30 October 2016, Rating: Neutral, FV: EGP61.09 per share, MCap: USD1,148mn, ORAS EY / ORAS.CA
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