Cairo – Mubasher: Arabian Cement will restructure its $30.9 million loan from National Bank of Egypt (NBE) and pay it off over 15 instalments.

This loan will be settled through paying $2 million quarterly-instalments at a foreign-currency interest of 5%, Arabian Cement highlighted in a statement to the Egyptian Exchange on Monday.

The company will reimburse the entire loan by early July 2021, the company added.

In July 2017, the cement and concrete maker announced that it obtained a loan of EGP 231 million from NBE to finance 100% of establishing the new coal grinder.