Wednesday , May 18 2022

Arab Finance – News – Metropolitan Egypt contracts with Falcon Investment to manage LE 18 million


Cairo: Egypt Financial Consultants (SAE) announced that it has entered into an agreement with Falcon Investment and Project Management to finance LE 18 million in light of the company's interest and its active role in supporting small and medium-sized sectors as well as promising young people.

Dr Khalid Najati, chairman of the Metropolitan Egypt Consulting Company, said that his company pays great attention to SMEs and believes it is important to improve the indicators for the economy and in view of the difficulties in obtaining this sector. On the financing side, the company pays at least 75 percent of its interest in financing for this sector in particular.

"Falcon Investment and Project Management is one of the promising companies with a promising future in the coming period," said Hani Abul Fotouh, Vice President of Metropolitan Egypt. "Financing will contribute to the company's expansion in mission and business volumes over the coming period."

"Falcon Investment and Project Management are currently collaborating with one of the largest companies in the Egyptian market in mass transit and the company has developed a plan to expand its business in the coming period," said Ahmad Jamil, credit manager in Metropolitan Egypt. Metropolitan-Egypt "to fund it.

In terms of financing requirements, he stated that the company needs financing of £ 18 million. In 2018, the company will establish and equip 5 service centers at a cost of 7.5 million pounds of laundry and rubber stores to provide all services for vehicles belonging to the bulk carrier. The company worth 10 million to buy about 40 car owners for use in mass transport services through the contract with a company working in this area, in addition to £ 2 million to capitalize on the working capital cycle.

Falcon Investment and Project Management will set up approximately 15 oil change, laundry and rubber repair centers at a cost of LE 1 million to LE 200 000 per building and cost of equipment in excess of LE 300 000. These centers will cover all parts of the Republic.

Source: Al-Mal newspaper

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