Skip to navigation Skip to main content Skip to site map

Projects

Project Brief

Summaries of proposed guarantees are provided prior to Board consideration and before final contract signing, and they are therefore subject to change. Project briefs are disclosed after Board consideration and contract signing and reflect the terms of the project at the time of contract signature. Environmental and Social Review Summaries are provided for projects assigned an Environmental Assessment Category of A or B.

 

Project name
Heckett MultiServ Bahna S.A.E.
Project ID
1266
Fiscal year
1997
Status
Not Active
Guarantee holder
Harsco Investment Corporation
Investor country
United States
Host country
Egypt, Arab Republic of
Sector
Manufacturing
Gross exposure
 $2.2 million
Project type
Non-SIP

MIGA issued a guarantee contract to Heckett MultiServ Investment Corporation of the United States for its investment in Heckett MultiServ Bahna, S.A.E., a steel slag processing plant near Alexandria. MIGA's guarantee for $2.24 million covers Heckett's investment against the risk of war and civil disturbance.

The plant will recover metal from slag produced by the national steel company, and the reclaimed metal will replace costly metal imports. Other products, such as steel slag aggregates, will be sold for road construction and asphalt paving projects in Egypt. The plant will recruit and train local staff and will purchase most equipment, spare parts, fuel, and construction materials from local suppliers.

 
Apply for an Investment Guarantee
The World Bank Group logo