NBK – Egypt grants EDECS $93mln funding to support container terminal development at Ain Sokhna Port

In line with the role of the Egyptian banking sector in the country’s economic development, National Bank of Kuwait – Egypt has granted EDECS International Engineering and Contracting Company credit facilities totaling $93 million. This funding is intended to support the development of the superstructure and the infrastructure of the container terminals at Ain Sokhna Port, commissioned by the Red Sea Containers Terminals Company.

The contract was signed by Mr. Amr El-Alfy, Chief Business Officer of National Bank of Kuwait – Egypt, and Mr. Hussein El-Dessouky, Chairman and Managing Director of EDECS, in the presence of Mr. Yasser El-Tayeb, Vice Chairman, CEO, and Managing Director, along with senior management and executives from both the bank and EDECS.