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NBE, Banque Misr, HSBC nod on EGP 250 mln finance for EK Holding

NBE, Banque Misr, HSBC nod on EGP 250 mln finance for EK Holding
EKH
EKHO
1.15% 0.88 0.01
National Bank of Egypt (NBE), Banque Misr and HSBC agreed to provide EGP250 million finance for Egypt Kuwait Holding Co in order to be used in coal energy , reported Amwal AL Ghad newspaper. An official banking source said the investment cost to convert into using coal energy project estimated at EGP350million, the banks provide EGP250million and Egypt Kuwait Holding will bear EGP100 million. In 2009, Kuwait Holding has previously obtained joint loan from several banks worth EGP1.2 billion to make its factory works with natural gas.