Banque Du Caire to Grant Ezz Steel Extra EGP 30 Mln

Banque Du Caire has agreed to inject EGP 30 million additional to Ezz Steel’s EGP 1.8 billion to amount to EGP 2.5 billion.

Informed banking sources, in exclusive statement to Amwal Al Ghad, said that 12 banks are taking part in financing the loan’s additional segment.

It is worth mentioning that the loan is allocated to finance factory for Steel Rolling Mill in Ain Sokhna, Suez. Ezz Steel, before the eruption of 25th January Revolution, withdrew EGP 900 billion out of the loan’s total value. Ahmed Ezz, one of the dissolved National Party’s symbols, was fined EGP 600 million because of the Steel License was against the Law.