Orascom Construction Industries (OCI), Egypt’s biggest listed builder, has secured a loan worth more than €175 million ($212.6 million) to part finance the buying of assets from Dutch chemicals group DSM, a newspaper said on Wednesday.
OCI, which also makers fertilizers, said on Tuesday it had completed the purchase of DSM’s melamine and agricultural businesses.
Business daily Al-Mal reported OCI’s investor relations director, Hassan Badrawi, as saying OCI would get the loan, worth more than €175 million, from an un-named Dutch bank. He said the deal was worth €310 million.
The company could not immediately be reached for comment.