OCI is the largest company listed on Egypt Stock Exchange (EGX), with GDRs listed on the London Stock Exchange and ADRs listed on the US Over-the-Counter (OTC) market. OCI’s current capitalization is US$8.5 billion (based on May 15th share price). OCI’s major shareholder is the Sawiris family with a 54.3% stake in the company (“the Sponsor”). Other shareholders with significant stakes include Abraaj Capital (6.2%) and Lazard (5.0%).

IFC financing will be directed to support the Group’s long term investment needs and replacing existing shorter term debt financing, previously raised in to partially fund the acquisition costs related to the Group’s fertilizers assets. IFC is considering a total investment package of up to $350 million which will structured as corporate finance facilities.

250.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	200.0
Equity	50.0

* These investment figures are indicative

OCI is headquartered in Cairo, Egypt. The construction operations span most of Egypt, a number of countries in MENA including Algeria, UAE, Saudi Arabia and Qatar OCI construction Group also operates in Europe and the United States. For fertilizers, OCI plants are located in Egypt, Algeria and the Netherlands. The Group also includes fertilizers distribution channels in Western Europe, Dubai, Brazil and the United States. EFC is located in the Suez Industrial Development Company, in Ain Sokhna, Suez Governorate on the Red Sea in Egypt.

The proposed investment is expected to have the following development impacts: (1) revenue generation to the Egyptian government as both OCI and EFC through tax payments by OCI and EFC; (ii) contributing foreign currency income to the country through export revenues and dividends received from investments outside of Egypt; (iii) job creation, directly through a number of planned capacity expansions in the fertilizers sector, and indirectly through sub contracting parts of the construction works in many on the Group''s projects; and (iv) contribution to food security through increased availability of fertilizers to support supply growth in primary agriculture.

The proposed investment IFC is very timely and is expected to have strong additionality through (i) providing a strong vote of confidence to the markets about the ability to do business in Egypt despite the recent crisis, (ii) through mobilization IFC will play its counter cyclical role and provide comfort to investors, including lenders under the B-loan, though partial political risk mitigation; (iii) re-engaging with a leading business group in the MENA region, a regional champion, committed to invest in the region and use this investment to pave the way for supporting future south-south investment opportunities with the group; and (iv) contributing to boosting agriculture production by suporting a newly created global fertilizers producer, a critical path to global food supply in meeting the challenge of increasing demand.

This is a category A project according to IFC’s environmental and social review procedure. Key environmental, health, safety and social issues associated with this investment include the Company’s ability to ensure that all assets and construction projects comply with national requirements and IFC Performance Standards recognizing that potential adverse E&S risks and impacts of individual construction projects will depend upon each specific project’s characteristics.

IFC’s review of this proposed investment included meetings and discussions with OCI’s management team, including several meetings with the corporate directors for Health, Safety and Environment and Human Resources. IFC specialists visited three of OCI’s construction projects underway at sites in Egypt as well as two of OCI’s operational fertilizer plants and the largest of its National Steel Fabrication plants. Key documentation reviewed included: the HSE management system manuals containing the Company’s HSE Policy, standards, plans and procedures and instructions in relation to HSE management and control of the Company’s construction activities, the management system manuals plans and procedures and safety guidelines for individual fertilizer plant operations in Egypt, HSE performance records; OCI Annual Reports; OCI HR policies and procedures, and the Environmental Impact Assessment (“EIA”) for the Sorfert Algeria fertilizer plant.

A detailed description of IFC’s environmental and social due diligence of this investment can be found in the Environmental and Social Review Summary (ESRS), which is also available on IFC’s website at http://www.ifc.org/projects.