Cairo--(Marketwire - Aug 1, 2011) -
Cairo, Egypt / 31 July, 2011 10:15 AM IFC Board Approves US$ 450 Million Debt and Equity Investment with OCI Orascom Construction Industries (OCI) announced today that the International Finance Corporation (IFC), a member of the World Bank Group, has received board approval for a US$ 450 million debt and equity investment package with OCI. The IFC will provide OCI with a US$ 200 million loan for Egyptian Fertilizer Company, will help mobilize an additional US$ 200 million loan from other lenders, and will make a US$ 50 million equity investment in the company. This investment is expected to provide more than 2,500 jobs across the region. The share buyback programs announced in June and July will help facilitate the IFC's purchases of OCI shares. OCI Chief Financial Officer, Salman Butt, commented, "we welcome the IFC's board approval of the investment package with OCI. This investment is a testament to the IFC's belief that Egypt remains an attractive foreign direct investment market. We are confident that the IFC's package has set a precedent to local banks to lend to Egyptian companies." The IFC's official press release can viewed at: http://www.ifc.org/news About Orascom Construction Industries OCI is one of Egypt's largest corporations with projects and investments across Europe, the Middle East and North Africa. The company directly employs more than 84,000 people and generated US$ 4.9 billion in revenues and US$ 1.1 billion in EBITDA in 2010. OCI currently has two core business activities. The OCI Fertilizer Group is a strategic owner and operator of nitrogen fertilizer plants in Egypt, the Netherlands and Algeria with an international distribution platform spanning Latin America, the United States, Europe and Africa. These operations will exceed 7.0 million metric tons of capacity in 2012, positioning OCI as a top three nitrogen-based fertilizer producer. The OCI Construction Group is a leading construction contractor active in emerging markets with a backlog of US$ 5.6 billion as at 31 December 2010. It primarily focuses on infrastructure projects in Europe, the Middle East and Africa in addition to industrial and high-end commercial projects. For additional information contact: For additional information on OCI: For additional information contact: For additional information on OCI: OCI Investor Relations www.orascomci.com Department: Omar Darwazah OCI stock symbols: OCIC.CA / OCIC EY / Email: OCICqL / ORSD / ORSCY omar.darwazah@orascomci.com Erika Wakid Orascom Construction Industries (OCI) Email: Nile City Towers - South Tower erika.wakid@orascomci.com 2005A Corniche El Nil Cairo, Egypt Hassan Badrawi Director Tel: +202 2461 1036/0727/ 0917 Fax: +202 2461 9409 This information is provided by RNS The company news service from the London Stock Exchange END
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