AAIB grants EDECS LE1.8B to finance its project in Egypt's Dekheila port

CAIRO - 17 February 2022: Arab African International Bank (AAIB) signed a financing contract worth LE 1.8 billion with EDECS for Engineering and Contracting to implement its huge project in Dekheila port, which is the construction of a multi-purpose terminal. 

 

The project is being built on an area of ​​240,000 square meters between Alexandria and Dekheila port, with the aim of establishing a group of warehouses and linking them maritimely to facilitate loading and unloading of ships in the port, and linking them by land to the Petrochemical Industry Complex in Al-Nahda area in Alexandria.

 

This financing comes in the interest of the Arab African International Bank to support such projects and achieve economic stability in Egypt, thus directly contributing to efforts to transform Egypt into a regional center for trade in the Middle East and Africa, in line with Egypt's vision and strategy 2030.

 

According to a statement by the bank, Sherif Elwi, Vice Chairman and Managing Director of the AAIB - said that the bank is keen to participate in supporting and financing important projects, in line with the bank’s priorities in supporting projects that have an impact on the infrastructure. Consequently, the productive activity and the acceleration of development of the Egyptian economy, especially that financing the establishment of the multi-station is considered one of the national projects.

 

For his part, Hussein El-Desouky, Chairman of the Board of Directors and Managing Director of EDECS, said that the company is one of the leading companies in the field of general contracting and has distinguished experience in implementing giant national projects, especially the infrastructure projects that have a direct impact on the economy, trade movement, citizens and the company because of its great experience in establishing many projects.