Middle East Economic Survey

VOL. XLVIII

No 9

28-February-2005

EGYPT

ExIm Bank Guarantees $230Mn For Egypt Ammonia Plant

US-based Export-Import Bank announced on 16 February it had approved a $229.8mn long-term guarantee to finance the proposed sales of equipment and services by Kellogg Brown & Root (KBR), a Halliburton subsidiary, to build an ammonia plant in Suez industrial zone in Egypt. The project company for the plant, Egypt Basic Industries Company (EBIC), is expected to be owned by KBR,...