Citadel Appoints Banks for Cairo Refinery Financing Deal: $2Bn Scheme Will Be North Africa's Largest Ever Project Financing

Nield, Richard, MEED Middle East Economic Digest

Citadel Capital has appointed banks to prepare the terms for the $2.25bn financing of a refinery near Cairo, the largest ever project finance deal in North Africa.

The local private equity company has appointed four international banks and two local institutions to work on the financing of the estimated $2.4bn refinery project at Mostorod, 10 kilometres from the capital. The financing is expected to be completed in April.

Bank of Tokyo-Mitsubishi, HSBC, Calyon and Sumitomo Mitsui Banking Corporation work on the international portion of the financing, while Commercial International Bank and Banque Misr will concentrate on the local portion.

The six banks …

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Publication information: Article title: Citadel Appoints Banks for Cairo Refinery Financing Deal: $2Bn Scheme Will Be North Africa's Largest Ever Project Financing. Contributors: Nield, Richard - Author. Magazine title: MEED Middle East Economic Digest. Volume: 52. Issue: 7 Publication date: February 15, 2008. Page number: 12. © 1999 MEED Middle East Economic Digest. All Rights Reserved. COPYRIGHT 2008 Gale Group.

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