Kandil Steel seeks IFC support to address rising raw material costs
The International Finance Corporation (IFC) is considering a three-year, $25 million loan to Egypt’s leading rolled steel manufacturer.
04/05/2023 at 17h45, by Africa Business+
The revolving credit from IFC will enable Cairo-based Kandil Steel, headed for the past ten years by Amr Mohy Eldin Khalil Kandil, to cope with rising raw material prices and increased working capital requirements at a time when the local banking sector is suffering from a lack of foreign currency, particularly dollars.
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