Egypt’s SODIC spends EGP 1.8bln credit facilities on its projects

Egypt’s Sixth of October for Development and Investment (SODIC) says it secured  credit facilities of 3.2 billion Egyptian pounds ($188.8 million), according to its Managing Director Magued Sherif.

SODIC has put to use 1.8 billion pounds of the credit facilities to increase the accomplish rates of the company’s various projects, Sherif added.

Sherif further told Amwal Al Ghad that the company has set out timetables to pay back these dues within the agreed upon dates.

In addition, the company may receive more credit facilities in the light of establishing new projects within the upcoming period .

Managing Director further added that the company’s investment plan includes pumping 3.7 billion Egyptian pounds into its projects during the current year.