Raya Holding Co. (RAYA) is in talks for a loan of 183 million Egyptian pounds ($30 million) from National Bank of Egypt, Al Mal reported, citing the bank’s head of corporate banking Sherif Riad.
The seven-year loan will be used to finance part of the information technology company’s 311 million-pound administrative building being built on the outskirts of Cairo, the newspaper said.
Raya’s Chief Investment Officer Karim Hassan couldn’t be reached for comment when contacted at his office today.
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