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Signing a Syndicated loan contract (club deal) of EGP 600 million for Redcon Construction Company




A new syndicated loan was signed for REDCON for EGP 600 million at the headquarters of Arab Investment Bank, in the presence of Mervat Sultan, Chairman and Managing Director of Export Development Bank of Egypt, Omaima Farhat, Chairman and Managing Director of Arab Investment Bank and Hassan Ghanem, Vice Chairman and Managing Director of Housing and Development Bank, and a number of key leaders at banks involved in finance. The Arab Investment Bank's share is about EGP 250 million, the Export Development Bank's share is EGP 202 million and the Housing and Development Bank contributed for EGP 148 million. The purpose of finance is the implementation of the work assigned to Redcon Construction Company of Emmar Misr for the project of Marrassi in the north coast and new alamein city