EBRD lends US$ 20 million to Futurefert in Egypt
Egypt, April 2 -- The European Bank for Reconstruction and Development (EBRD) is strengthening Egypt's industrial sector by lending US$ 20 million (€17.5 million) to Futurefert to support its capital expenditure programme.The EBRD financing will support the construction and operation of three interconnected plants - a sulphuric acid plant, a potassium sulphate plant and a single superphosphate plant - in the Suez Canal Economic Zone, within the Northwest Gulf of Suez Special Economic Zone. The three plants, which will be used for exports to European and African markets, will cover a total area of 127,000 square metres and involve total investment of US$ 45.65 million (€39.9 million).Futurefert's expansion is expected to create a...
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