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

June 07, 2012 08:17 ET

IFC to Provide US$ 100M Loan to OCI

CAIRO, EGYPT--(Marketwire - Jun 7, 2012) -


Cairo, Egypt / 7 June, 2012 10:15 AM

IFC to Provide US$ 100 Million Loan to the OCI Construction Group

Orascom Construction Industries (OCI) announced today that the International Finance Corporation (IFC), a member of the World Bank Group, will provide a US$ 100 million loan to Orascom Construction (OC), the Company's wholly-owned construction subsidiary. The loan will be used to finance the operations of the company as well as ongoing and new projects.

Salman Butt, Chief Financial Officer of OCI, commented, "securing this loan will provide Orascom Construction with the necessary capital to expand its operations across the region. We are pleased with the IFC's continued commitment to the company as well as the country and look forward to further developing our longstanding relationship in the future."

Mouayed Makhlouf, IFC Director for the Middle East and North Africa, said, "by supporting a group like Orascom Construction, we want to send the signal that Egypt has long-term potential. This investment fits with our strategy of boosting confidence in Egypt's private sector, a major contributor to employment."

About Orascom Construction Industries

OCI is one of Egypt's largest corporations employing more than 72,000 people in 35 countries around the globe. The OCI Fertilizer Group owns and operates nitrogen fertilizer plants in Egypt, the Netherlands, the United States, and Algeria and has an international distribution platform spanning from the Americas to Asia. The OCI Fertilizer Group ranks among the world's top fertilizer producers with a production capacity which will exceed 7.0 million metric tons in 2012. The OCI Construction Group provides international engineering and construction services primarily on infrastructure, industrial and high-end commercial projects in Europe, the Middle East and North Africa for public and private clients. The OCI Construction Group ranks among the world's top global contractors.

For additional information contact:
OCI Investor Relations Department:

Omar Darwazah
Email:omar.darwazah@orascomci.com
Erika Wakid
Email:  erika.wakid@orascomci.com 
Hassan Badrawi
Director

Tel: +202 2461 1036/0727/0917
Fax: +202 2461 9409

For additional information on OCI:

 www.orascomci.com 

OCI stock symbols: OCIC.CA / OCIC EY /
OCICqL / ORSD / ORSCY

Orascom Construction Industries (OCI)
Nile City Towers - South Tower
2005A Corniche El Nil
Cairo, Egypt

                    This information is provided by RNS
          The company news service from the London Stock Exchange

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