Summary of Proposed Investment
Project Number
20952
Company Name
LECICO EGYPT S.A.E.
Date SPI Disclosed
Jun 13, 2003
Country
Egypt, Arab Republic of
Industry
Manufacturing
Projected Board Date
Jul 11, 2003
Status
Completed
Sector
Glazed Ceramic Tiles
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Sep 10, 2003
Signed : Jan 26, 2004
Invested : Jan 3, 2006
Project Description
The Lecico Group (Lecico or the Group), a leading manufacturer of sanitary ware and ceramic tiles in the Middle East, headquartered in Alexandria, Egypt, has requested IFC to provide a corporate loan of up to $20 million. The Group’s holding and main operating company Lecico Egypt S.A.E (Lecico Egypt or the company) is planning to make various investments to expand the Group’s production capacity in Egypt and to refinance the debt of its majority-owned subsidiary the Lebanese Ceramic Industries Co. S.A.L. (Lecico Lebanon) in Lebanon. The proposed investment will help Lecico address sanitary ware export growth opportunities in the region and Europe as well as reduce production costs further in order to make it more competitive.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Elie J. Baroudi, Managing Director
Lecico Egypt S.A.E.
P.O. Box 358
Khorshid, Alexandria
Phone: 203-518-0011
Fax 203-518-0029
Email: ebaroudi@lecico.com.eg