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    OCI Private Clients: IFC to Provide US$ 100M Loan to OCI

    Eadger Goldston

    by Eadger Goldston

    IFC to Provide US$ 100 Million Loan to the OCI Construction Group

    Orascom Construction Industries (OCI) announced today that the
    International Finance Corporation (IFC), a member of the World Bank
    Group, will provide a US$ 100 million loan to Orascom Construction
    (OC), the Company's wholly-owned construction subsidiary. The loan will
    be used to finance the operations of the company as well as ongoing and
    new projects.

    Salman Butt, Chief Financial Officer of OCI, commented, "securing this
    loan will provide Orascom Construction with the necessary capital to
    expand its operations across the region. We are pleased with the IFC's
    continued commitment to the company as well as the country and look
    forward to further developing our longstanding relationship in the

    Mouayed Makhlouf, IFC Director for the Middle East and North Africa,
    said, "by supporting a group like Orascom Construction, we want to send
    the signal that Egypt has long-term potential. This investment fits
    with our strategy of boosting confidence in Egypt's private sector, a
    major contributor to employment."

    About Orascom Construction Industries

    OCI is one of Egypt's largest corporations employing more than 72,000
    people in 35 countries around the globe. The OCI Fertilizer Group owns
    and operates nitrogen fertilizer plants in Egypt, the Netherlands, the
    United States, and Algeria and has an international distribution
    platform spanning from the Americas to Asia. The OCI Fertilizer Group
    ranks among the world's top fertilizer producers with a production
    capacity which will exceed 7.0 million metric tons in 2012. The OCI
    Construction Group provides international engineering and construction
    services primarily on infrastructure, industrial and high-end
    commercial projects in Europe, the Middle East and North Africa for
    public and private clients. The OCI Construction Group ranks among the
    world's top global contractors.