Banque du Caire inks financing agreement with Kandil Glass for new plant in Suez
Updated 2/15/2026 1:35:00 PM
Arab Finance: Banque du Caire signed a financing agreement with Kandil Glass to support the construction of a new glass manufacturing plant at the Ataqa Free Zone in Suez, with an expected daily production capacity of 100 tons, as per a press release.
The facility is part of a medium-term loan of $16.7 million for six years within a larger investment project at a total cost of $20.4 million for the development of the Kandil Glass Industries plant in the free zone.
Moreover, the deal will finance the existing Kandil Glass project with $8 million and EGP 85.6 million to fund the company's capital expenditure (CAPEX).
This partnership aligns with Kandil Group's strategy to cement its position as a leader in the glass industry in Egypt and the Middle East. It also backs the government's objectives to enhance exports and boost local production.
As for Banque du Caire, the agreement supports the lender’s commitment to expanding industrial projects and local investments, contributing to economic development and boosting local production capacity.
In 2025, Banque du Caire disclosed its annual financial results, logging net profits after tax of EGP 16.1 billion, 30% higher than the EGP 12.4 billion recorded in 2024.
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