Egypt’s Evergrow expects signing EGP 6 billion financing deal early October

Egyptian fertiliser company Evergrow is in talks with banks to raise 6 billion Egyptian pounds ($382.4 million) in debt financing, its chairman said on Monday.

The company expects to sign a financing deal with a consortium led by the National Bank of Egypt (NBE) by early October, Mohamed El Kheshen further told Amwal Al Ghad.

The loan will help finance the operation of the third phase of Evergrow’s industrial complex in Sadat City, El Kheshen added.

Founded in 2006, Evergrow enjoys a wide global presence as it exports to more than 70 countries worldwide.