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Sunday, 17 November 2019

Hassan Allam signs USD 20 mn loan with EBRD for investments in Egypt’s water, wastewater sector

Hassan Allam signs USD 20 mn loan with EBRD for water, wastewater investments: The European Bank for Reconstruction and Development (EBRD) and Hassan Allam Holding signed on Thursday a USD 20 mn loan agreement for the construction firm to expand its investments in Egypt’s water and wastewater treatment sector, according to an EBRD statement. The loan will support Hassan Allam’s plans to acquire “specialised companies in engineering and water desalination,” the statement says. The funding will also be used to accelerate its youth employment and train existing employees. “Hassan Allam Holding is a construction and engineering company that is making a commitment to do better by the environment. Yes, we’re adopting principles of sustainability. But we’re also expanding our business offering by adding green utilities to our core activities,” said Hassan Allam CEO Amr Allam.

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