PROJECT

Projects

Summary of Investment Information

Project Number

47399

Company Name

KANDIL STEEL

Date SPI Disclosed

May 3, 2023

Country

Egypt, Arab Republic of

Region

Africa

Projected Board Date

Jul 14, 2023

Environmental Category

B - Limited

Status

Active

Last Updated Date

Dec 13, 2023

Department

Regional Industry - MAS Africa

Industry

Manufacturing

Previous Events

Approved : Jul 14, 2023
Signed : Aug 3, 2023
Invested : Sep 7, 2023

Sector

Re-Rolling and Drawing of Purchased Steel

Project Description

 Kandil Steel S.A.E (“KS” or the “Company”) is the leading downstream flat steel supplier in Egypt and having export capacity. The proposed investment is an IFC A loan of up to US$25 million to finance the Company’s permanent working capital needs, the “Project”. 

Associated Advisory Engagement

 IFC is supporting the Company through a Resource Efficiency (“RE”) advisory program to help decarbonize the Company’s operations and reduce greenhouse gas emissions. In addition, the Company is seeking IFC’s support to improve its corporate governance practices through a potential Corporate Governance (“CG”) advisory program.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation