Egypt, Arab Republic of
Heckett MultiServ Bahna S.A.E.
$2.24 million
Manufacturing
Project Brief
Not Active
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.