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Country-Plan Projects and Tenders |
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8256 Subject |
880 مليون دولار تمويل من الصين لمشروعات السكر والاسمنت وصناعة عربات النقل الثقيلة في مصر $ 880 million (about L.E. 5 billion) Chinese soft finance seems in the pipeline to back sugar, cement & heavy duty trucks projects. |
| Date Published | Sunday, April 03, 2005 |
| Source Name | Al Alam Al Yom |
| Location Name | Country Wide |
| Description | Media reports have indicated that the Chinese Bank for Commerce and Industry has agreed (in principle) to finance up to 85 % of the cost of three jumbo projects to produce beat sugar ($ 240 million), cement ($ 280 million) and heavy duty trucks ($ 360 million). According to Eng. Saber Oweis, Chairman of the Arab Co. for Construction Materials Industry, the Chinese party would finance 85 % of the said investments indicating that relevant letters of guarantee have been already opened. He further revealed that the beat sugar project is located in Noubariya. As to the cement mill, scheduled for completion by 2007, he indicated that it would have an annual design capacity of 1.2 million tons and that offers for the production line were requested from leading suppliers in Denmark, Germany and China. Concerning the heavy duty trucks project, Eng. Oweis indicated that it would start with a local manufacture component of 35 % to be increased gradually later on. |
| Sectors Section |
Beneficiary Sectors - Construction Projects Integrated works - Industry Cement - Automotive & Construction Equipment Pickups & Trucks - Consultancy Engineering Consultancy |
