03 Dec 2010
(MENAFN) Basil El Baz, Chairman and Chief Executive Officer of Egypt Hydrocarbon Corporation (EHC), announced that the corporation was able to secure a $298 million loan facility for the construction of a world-scale chemical complex in the Suez region of Egypt, Trade Arabia reported.
According to El Baz, the initial mandated Lead Arrangers for the loan facility are an Egyptian bank and a Bahraini bank, whereas the engineering, procurement and construction contract and technology licenses have been executed with Uhde, a wholly owned subsidiary of ThyssenKrupp.
The complex, which is scheduled to start-up in 2013, converts ammonia feedstock to 925 metric tons per day of nitric acid which is further processed to produce 1,060 metric tons per day of low density ammonium nitrate, explained El Baz.
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
05 Nov 2024
As part of its digital transformation journey, BBK adds Google Wallet to its range of digital wallets
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more