Summary of Proposed Investment
Project Number
7360
Company Name
ALEXANDRIA NATIONAL IRON & STEEL CO.
Date SPI Disclosed
Nov 29, 1995
Country
Egypt, Arab Republic of
Industry
Manufacturing
Status
Completed
Sector
Integrated Steel Works
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Dec 18, 1995
Signed : Feb 6, 1996
Project Description
Summary Of Project Information (SPI)
| Project Name | Egypt-Alexandria National Iron and Steel Co. (ANSDK) |
| Risk Management Facility |
| Region | Middle East |
Sector
Project No007360
Projected Board DateDecember 15, 1995
Company NameAlexandria National Iron and Steel Company (ANSDK)
Technical Partner and/or Major Shareholders
Technical Partner - a Japanese Consortium (10%) composed of Nippon Kokan, Kobe Steel and Toyo Menka Kaisha (renamed Tomen). ANSDK’s other shareholders include Egyptian investors (72%), the Company’s employees (13%) and IFC (5%).
Project Cost Including proposed IFC investment
IFC’s proposed maximum risk exposure on the Risk Management Facility is US$17 million.
Location of project and Description of site
Dikheila, West of Alexandria, on the Mediterranean coast.
Description of Company and Purpose of Project
The Company, which was established in 1983 with financial and technical assistance from IFC and the World Bank, is an efficient and internationally competitive producer of steel rebars. The project consists of establishing a Risk Management Facility (RMF) for ANSDK. The proposed RMF is the fourth tranche of an ongoing effort by IFC to help the Company minimize its currency and interest rate exposure.
Environmental Category and Issues
The proposed transaction falls under category C of IFC’s environmental procedures and is of a financial nature only.
| Date SPI sent to PIC | November 29, 1995 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Sponsor / Cost / Location
Related ESRS/ERS
