Arab Finance: A banking alliance led by Banque Misr with Suez Canal Bank and Al Baraka Bank of Egypt succeeded in granting… Joint financing Long-term in the amount of $108 million for the benefit of MAFI Agricultural Crops Manufacturing Company, for the purpose of financing part of the investment costs of the funded project amounting to approximately $180 million US dollars, where the Banque Misr played the role of financing agent, sole financing marketer, capital account bank, and account bank. Revenues, the initial principal and the lending bank in the banking alliance, the Suez Canal Bank as the security agent, the debt service account bank, the lending bank and the initial principal, and Al Baraka Bank as the lending bank. The initial principal salary, and it is worth noting that the entire shareholders’ share in the project, estimated at $72 million, has been pumped so far before obtaining the financing.
The project aims to establish, build, implement and operate a complex of factories for the production of fruit and vegetable concentrates and freezers in Sadat City. The complex consists of five factories, represented by the citrus concentrates factory, Cloudy Concentrates, the tomato and multi-fruit concentrates factory, and the freezing factory with (IQF) technology, in addition to the lyophilization factory. It is planned to export 100% of the products that the project will produce.
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