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    OPES Capital Inc Private Clients


    door waddellabe

    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 future."
    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

    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