Back to the complete issue
Wednesday, 11 May 2016

Banque du Caire to invest EGP 700m in transport, electricity sectors, says CEO

Banque du Caire intends to invest over EGP 700 mn into the electricity and transport sectors, according to CEO Mounir Al-Zahid, DNE reports. “Banque Du Caire is a contributor to the EGP 5 bn loan which is being granted to the Egyptian Electricity Transmission Company. Between EGP 500 mn and EGP 700 mn will be allocated to finance the construction of new transformer stations and serve those already existing, in addition to the implementation of electric cables and power transmission lines,” said Al-Zahid. On the transport front, he says BdC has disbursed funds to NUCA for its Six October / Sheikh Zayed to Cairo Monorail project, extended EGP 1.6 bn in finance to Cairo Metro for a fleet upgrade and extended loans to Contact Cars. (Read)

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.