{"id":46246,"date":"2024-12-16T10:11:58","date_gmt":"2024-12-16T10:11:58","guid":{"rendered":"https:\/\/my.legal500.com\/developments\/?post_type=press_releases&#038;p=46246"},"modified":"2024-12-16T10:12:10","modified_gmt":"2024-12-16T10:12:10","slug":"mbh-advises-a-syndicate-of-banks-on-an-egp-5-billion-syndicated-loan-to-neric","status":"publish","type":"press_releases","link":"https:\/\/my.legal500.com\/developments\/press-releases\/mbh-advises-a-syndicate-of-banks-on-an-egp-5-billion-syndicated-loan-to-neric\/","title":{"rendered":"MBH advises a syndicate of banks on an EGP 5 billion syndicated loan to NERIC"},"content":{"rendered":"<p><strong>We are pleased to announce that Matouk Bassiouny &amp; Hennawy (\u201cMBH\u201d) acted as legal counsel to a syndicate of banks comprising the National Bank of Egypt (\u201cNBE\u201d),<\/strong><!--more--><span style=\"font-size: 1rem\">the Commercial International Bank (\u201c<\/span><strong style=\"font-size: 1rem\">CIB<\/strong><span style=\"font-size: 1rem\">\u201d), and the Arab African International Bank (\u201c<\/span><strong style=\"font-size: 1rem\">AAIB<\/strong><span style=\"font-size: 1rem\">\u201d) in connection with a syndicated loan worth EGP 5 billion to the National Egyptian Railway Industries Company (\u201c<\/span><strong style=\"font-size: 1rem\">NERIC<\/strong><span style=\"font-size: 1rem\">\u201d) for the construction and development of an industrial rolling stock plant in the Suez Canal Economic Zone at East Port Said.<\/span><\/p>\n<p>The plant will cover approximately 300,000 square meters, divided into three phases of 100,000 square meters each. The first phase, currently under construction, includes a factory for railway and metro vehicles, which is projected to open by mid-2025 with an estimated investment of EGP 4.2 billion. The second phase will focus on manufacturing rolling stock for the monorail, high-speed trains, and light electric trains, while the third phase will involve refurbishing old metro and railway cars<\/p>\n<p>Once operational, the NERIC factory, in partnership with Hyundai Rotem of South Korea, will manufacture 40 metro trains, totaling 320 new air-conditioned metro cars for Greater Cairo Metro Lines 2 and 3. Additionally, a contract is underway for the manufacturing and supply of 500 railway cars, with plans to locally produce a total of 1,000 railway cars in collaboration with the Ministry of Transport and an international transportation manufacturing company.<\/p>\n<p>The MBH team advising on the matter was led by Mahmoud S. Bassiouny (Regional Managing Partner and Group Head of Finance &amp; Projects) and included Nadia Abdallah (Counsel), and Mai Ali (Associate).<\/p>\n<p>For more about Matouk Bassiouny, check out our website at <a href=\"https:\/\/matoukbassiouny.com\/\">https:\/\/matoukbassiouny.com\/<\/a>.<\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-46246","press_releases","type-press_releases","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases\/46246","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases"}],"about":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/types\/press_releases"}],"wp:attachment":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/media?parent=46246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}