SOURCE: Orascom Construction Inds, S.A.E.

August 01, 2011 02:00 ET

IFC Board Approves Investment with OCI

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

Contact Information