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Tuesday, 23 June 2020

Samcrete looks to borrow EGP 1.7 bn from local banks to work on new cities

Conglomerate Samcrete is in talks with two local banks to arrange a EGP 1.7 bn loan to finance its work in new cities, Al Mal reports, quoting sources with knowledge of the matter. The company is in talks with one state-owned and one private bank for a three- to five-year revolving credit facility to finance projects awarded to it by NUCA in the second phase of New Alamein, the sources said.

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