Abu Dhabi Commercial Bank (ADCB) – Egypt has signed a financing agreement with Industrial Development Group (IDG), providing the company with a credit facility worth EGP 618m to finance the industrial complex currently being developed in New October City.
The financing comes as part of the bank’s expansion strategy and continued participation in financing major projects that support the national economy. It also reinforces IDG’s position as one of the leading developers of industrial parks in Egypt and Africa through the development of fully integrated, ready-to-operate industrial environments combining advanced infrastructure with operational and logistics services that support business growth.
Hisham Abbas, Chief Corporate and Institutional Banking Officer at ADCB Egypt, said the bank continuously strives to be the preferred banking partner for its clients by providing an outstanding banking experience, along with innovative products and services that support their projects and expansion plans.
“Guided by this commitment, we are keen to provide financing solutions that enable our clients to implement their investments and create sustainable added value, thereby supporting strategic sectors, foremost among them the industrial sector, which represents a key driver of economic growth,” Abbas said. “This aligns with the objectives of comprehensive development and enhances the competitiveness of the Egyptian economy.”
Shady William, Chief Executive Officer of Industrial Development Group (IDG), said the financing represents a strategic milestone that will strengthen the company’s ability to accelerate the implementation of its expansion plans.
“It also reflects the confidence of financial institutions, led by Abu Dhabi Commercial Bank – Egypt, in IDG’s vision to develop integrated industrial communities that keep pace with the requirements of modern industry while supporting the State’s efforts to enhance the competitiveness of the industrial sector,” William said.
He added that the e² New October project is one of the developments that embodies this vision by providing a fully integrated industrial environment that meets the needs of local and international investors and offers advanced infrastructure that supports sustainable industrial growth.
“We believe that the future of industrial development goes beyond providing basic infrastructure. It depends on delivering a fully integrated ecosystem of operational services, logistics solutions, and business support services that enable investors to achieve the highest levels of operational efficiency, enhance the competitiveness of their businesses, and create sustainable value that contributes to industrial and economic growth in Egypt,” William said.
The e² New October project is one of the latest integrated industrial parks being developed by IDG, which currently manages a network of four integrated industrial parks with a total area of 23.4 square kilometres in strategic locations across Egypt. These include e² October, East Port Said, e² Alamein and e² New October.
The project spans 1.6 square kilometres and aims to develop more than 100 factories and industrial facilities, with expectations of creating more than 10,000 job opportunities.
The project is strategically located in New October City, providing easy access to Al Wahat Road, the Ring Road and several major transportation corridors, thereby enhancing its logistics efficiency and investment appeal.
It represents an extension of IDG’s vision to develop integrated industrial environments that enable investors to access regional and global markets across Africa, Asia and Europe, while contributing to strengthening Egypt’s position as a regional hub for manufacturing and exports.
Through the financing, ADCB Egypt further reinforces its role as a financial partner supporting the evolving needs of its clients and the state’s development plans.
The bank said it remains focused on strengthening the local manufacturing ecosystem, creating new employment opportunities, attracting foreign investment, and advancing sustainable infrastructure and renewable energy solutions in line with international standards and best practices.
The financing also forms part of the bank’s broader sustainability strategy, under which it is committed to expanding its green financing portfolio and providing dedicated credit solutions and financing facilities to support corporate clients and accelerate the transition towards a low-carbon national economy.
