We are pleased to announce that Matouk Bassiouny & Hennawy (“MBH”) acted as legal counsel to MAFI for Agricultural Produce Industries (“MAFI”) (the “Project Company”) in connection with a long-term syndicated loan of up to USD 108 million, provided by Banque Misr, Al Baraka Bank, and the Suez Canal Bank (the “Lenders”), to support the development of MAFI’s agri-food operations.
The project aims to establish, build, and operate a factory complex in Sadat City to produce fruit and vegetable concentrates and frozen products. This endeavor will enhance the localization of Egypt’s agricultural industry by adopting advanced technologies and creating added value for national products. It is planned that 100% of the project’s production will be exported to global markets, particularly Europe, the United States, Gulf countries, and Japan.
The MBH team advising on the project was led by Mahmoud S. Bassiouny (Regional Managing Partner and Group Head of Finance & Projects) and included Iman Nassar (Senior Associate).
For more information about Matouk Bassiouny, visit www.matoukbassiouny.com