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France’s Lazard to collect $3bn for Tahrir Petrochemical Project

by ChemOrbis Editorial Team -
  • 17/09/2015 (17:12)
According to local media sources in Egypt, French asset management firm Lazard has agreed to be the financial consultant for the Tahrir Petrochemicals project for Carbon Holdings.

Karim Helal, financial consultant at Carbon Holdings and also a consultant with the Egyptian Chamber of Tourism, commented, “The partnership between Carbon Holdings and Lazard aims to attract capital funds, estimated at $3 billion, which will contribute to the Tahrir project. However, for now, we are still waiting for the US Congress to reauthorize the Import-Export bank to borrow $2 billion for the project.”

Apart from the developments on the Tahrir project funding, Helal also touched upon the developments on the Egypt-ASEAN Association strategy. According to him, the association’s name has been changed to the “Egyptian Asian Association” in order to fit the association’s new strategy.

With this name change, the association now does not only include Southeast Asia but also other strong Asian economies such as China. Helal said to the local press, “The association is working on including sectors in which there can be cooperation with Asian companies and investors. These sectors include transportation, logistical services, manufacturing, the collection industry, technological applications and electronic devices.”
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