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."
