Egypt P’chem Funding

Egyptian firm Carbon Holdings is looking to raise $4bn with export credit agencies this year to help fund its $7.4bn Tahrir Petrochemicals Complex, due to be built at Ain Sukhna near the southern entrance to the Suez Canal. Construction is slated to begin in 1Q 2016, with start-up in 2019.

CEO Basil El-Baz told reporters at a conference in Abu Dhabi this week that the company is holding talks for a 17-year debt facility with five potential lenders: Export-Import Bank of the United States; Export-Import Bank of Korea; Korea Trade Insurance Corporation (Ksure); Italy’s SACE; and US government’s Overseas Private Investment Corporation (OPIC). (CONTINUED - 392 WORDS)