Orascom Construction Industries (OCI) announced today that the <br /><br />International Finance Corporation (IFC), a <br />member of the World Bank Group, will provide a US$ 100 million loan <br /><br />to Orascom Construction (OC), the <br />Company’s wholly-owned construction subsidiary. The loan will be used <br /><br />to finance the operations of the company <br />as well as ongoing and new projects.<br />Salman Butt, Chief Financial Officer of OCI, commented, "securing this <br /><br />loan will provide Orascom Construction<br />with the necessary capital to expand its operations across the region. We <br /><br />are pleased with the IFC’s continued <br />commitment to the company as well as the country and look forward to <br /><br />further developing our longstanding <br />relationship in the future."
