SAIB Bank signed a 750million Egyptian pounds medium-term syndicated loan agreement for an affiliate of Dorra Group, Construction and Reconstruction Engineering Company (CRC).
SAIB acted as bookrunner and agent of the deal, while the National Bank of Egypt participated as a bookrunner and financing promoter, and the Suez Canal Bank also served as bookrunner.
Tarek El Kholy, saib’s Chairperson and Managing Director said that thev construction sector is one of the strongest economic sectors, capable of achieving enough growth rates to push the national economy forward, whilst also providing job opportunities.
He also said that the construction sector is linked to more than 100 feeding industries.
The CRC was established in 1943 as a contracting company. Since then, the group has become a pioneer in many fields in Egypt, including contracting, development, and tourism investment, and has expanded widely in the Gulf markets.