EBRD loans a subsidiary of El Sewedy Electric $50 mn
First Bank
El Sewedy Electric, a leading provider of integrated energy and infrastructure solutions in Africa and the Middle East, announced in a statement to the Egyptian Stock Exchange today, that its subsidiary, United Metals Company, has obtained a loan of $50 mn from the European Bank for Reconstruction and Development.
The loan will be used to secure the financial capital of United Metals Company, enabling the import of copper rods, a crucial element in cable production.
