Banque Misr Approves to Give EGP750mln Credit Facilities to Hassan Allam

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Banque Misr has approved recently to inch the size of granted credit facilities of Hassan Allam Holding Construction Company to become EGP250 million compared to EGP500 million.

The bank agreed to increase the credit facilities of Hassan Allam which assigned to develop the ring road in addition to Phase II of Upper Egypt –Red Sea, Mohamed Abbas Fayed – Banque Misr’s Vice Chairman asserted.

Hassan Allam decided to lift the efficiency of ring road with Cairo/Alexandria Agriculture road.

Speaking to Amwal Al Ghad Arabic’s Website, Fayed said the bank approved to boost the submitted credit facilities of Arab Contractors Company with exceed value of EGP200 million, noting that the company expanded in African and regional levels including Kuwait beside the domestic projects.

Meanwhile Arab Contractors Co is currently working in Kuwait.