Orascom Construction secures $213m loan

03 Jun 2010

(MENAFN) Orascom Construction Industries (OCI), Egypt’s biggest listed builder, said that it has secured a loan worth over $212.6 million to part finance the buying of assets from Dutch chemicals group DSM, according to business daily newspaper.

OCI, which also makers fertilizers, said that it had completed the purchase of DSM’s melamine and agricultural businesses.

Business daily Al-Mal reported OCI’s investor relations director, Hassan Badrawi, as saying OCI would get the loan, worth more than $210 million, from an un-named Dutch bank. He said the deal was worth $378 million.

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