ANSDK: RISK MANAGEMENT FACILITY 1995

completed

Summary Of Project Information (SPI)Project NameEgypt-Alexandria National Iron and Steel Co. (ANSDK)Risk Management FacilityRegionMiddle EastSectorProject No007360Projected Board DateDecember 15, 1995Company NameAlexandria National Iron and Steel Company (ANSDK)Technical Partner and/or Major Shareholders Technical Partner - a Japanese Consortium (10%) composed of Nippon Kokan, Kobe Steel and Toyo Menka Kaisha (renamed Tomen). ANSDK’s other shareholders include Egyptian investors (72%), the Company’s employees (13%) and IFC (5%).Project Cost Including proposed IFC investment IFC’s proposed maximum risk exposure on the Risk Management Facility is US$17 million.Location of project and Description of site Dikheila, West of Alexandria, on the Mediterranean coast.Description of Company and Purpose of Project The Company, which was established in 1983 with financial and technical assistance from IFC and the World Bank, is an efficient and internationally competitive producer of steel rebars. The project consists of establishing a Risk Management Facility (RMF) for ANSDK. The proposed RMF is the fourth tranche of an ongoing effort by IFC to help the Company minimize its currency and interest rate exposure. Environmental Category and Issues The proposed transaction falls under category C of IFC’s environmental procedures and is of a financial nature only.Date SPI sent to PIC November 29, 1995For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).