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Egypt, Arab Republic of

Elif Global Packaging S.A.E

$10.2 million
Manufacturing
Project Brief
Active

Project Facts

Project Facts

Project Facts

Arab Republic of Egypt
Project ID
11695
Guarantee Holder
Elȉf Plastik Ambalaj Sanayȉ ve Tȉcaret A.Ș.
Investor Country
Turkey
Environmental Category
B
Date SPG Disclosed
November 04, 2014
Projected Board Date
April 14, 2015
Project Type
Non-SIP
Fiscal Year
2015

On September 24, 2014, MIGA issued a guarantee of $10.2 million covering a loan guarantee from Elȉf Plastik Ambalaj Sanayȉ ve Tȉcaret A.Ș., (Elif Plastic) to Landesbank Baden Württemberg on behalf of Elif Global Packaging S.A.E. in Egypt. The coverage is for a period of up to nine years against the risks of transfer restriction, expropriation, and war and civil disturbance, including temporary business interruption.

The project involves the construction of a new packaging plant near Cairo. Elif Plastik, the main operating company of the Elif Group, is a global supplier in the flexible thin films packaging industry, mainly supplying consumer products companies, including Procter and Gamble. MIGA initially supported this project in fiscal year 2014.