PSC and BEA Bank have provided an initial tranche of credit granted to ASEC Algeria, a subsidiary of Egyptian ASEC Cement Holding, for the construction of a 3Mta cement plant in Djelfa, Algeria.

Local press reported that the External Bank of Algeria (BEA) and National Savings and Welfare (Bank-PSC) signed an agreement on funding the first tranche of credit last Thursday.

This first installment is estimated at nearly DZD18bn. The BEA will provide DZD12bn while the Bank PSC-inject DZD5.7bn.
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