Banque Misr Grants EGP 600 mln Credit Facilities for 2 Sugar Firms

Banque Misr approved granting EGP600 million credit facilities for Nubaria for sugar & refining company (N.S.R.C.) and Delta Sugar Co (DSC ) within the next sugar season.

Speaking to Amwal Al Ghad Arabic’s Website, Mohamed Abbas Fayed – Banque Misr’s Vice Chairman noted that his bank boosted the facilities value to EGP100 million in compared to the previous season.

The total value of issued and paid up capitals to DSC reached EGP710.99 million,

Egyptian Sugar and Integrated Industries Company (ESIIC) owned 55.7% from the Shares capital of the company whereas the rest rates distributed among a numbers of banks insurance companies, Egyptian Endowments Authority and other investors.

While the issued capital of Nubaria for sugar up EGP500 million with 100% Egyptian Joint Stock and 100% distributed among national firms, banks and insurance companies.