EFC Egypt II

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Egyptian Fertilizers Company (“EFC”, or the 'company' - http://www.oci.nl/oci-fcg/our-facilities/egyptian-fertilizerscompany/) is the largest private sector granular urea producer in Egypt. EFC is an existing IFC client and subsidiary of OCI N.V. (“OCI” or the “sponsor” - http://www.oci.nl/), part of the OCI Group, and a global natural gas-based chemicals producer and engineering & construction contractor based in the Netherlands.EFC was established in 1998 as an Egyptian Free Zone Company which produces 1.55 million tons per annum (mtpa) of urea and is one of the largest producers in Egypt. It started production in 2001 at its Ein Sokhna industrial site, 140km southeast of Cairo and adjacent to the Gulf of Suez. (https://goo.gl/maps/QWqCyidy5a72). OCI Group acquired EFC in early 2008. EFC exports more than 70% of its products mainly to Europe, North America, South America and more recently to Africa. The proposed IFC’s investment in EFC is to refinance its existing debt and support its maintenance capex and working capital needs (“the project”). As such, the project will not involve any new construction or expansion activities.