Listen to this article
Abu Dhabi Commercial Bank – Egypt has signed a financing agreement with Industrial Development Group (IDG), granting the company a credit facility worth EGP 618 million to finance the industrial complex currently being developed by the company in New October City. This financing comes as part of the Bank’s expansion strategy and its continued participation in financing major projects in support of the national economy. It also reinforces Industrial Development Group’s position as one of the leading developers of industrial parks in Egypt and Africa through the development of fully integrated, ready-to-operate industrial environments that combine advanced infrastructure with operational and logistics services that support business growth.
On this occasion, Hisham Abbas , Chief Corporate and Institutional Banking Officer, Abu Dhabi Commercial Bank – Egypt, stated: “We continuously strive to be the preferred banking partner for our clients by delivering an outstanding banking experience, along with innovative products and services that support their projects and expansion plans. Guided by this commitment, we are keen to provide financing solutions that enable our clients to implement their investments and create sustainable added value, thereby supporting strategic sectors, foremost among them the industrial sector, which represents a key driver of economic growth. This aligns with the objectives of comprehensive development and enhances the competitiveness of the Egyptian economy.”
For his part, Shady William, Chief Executive Officer of Industrial Development Group (IDG), said: “This financing represents a strategic milestone that strengthens our ability to accelerate the implementation of our expansion plans. It also reflects the confidence of financial institutions, led by Abu Dhabi Commercial Bank – Egypt, in IDG’s vision to develop integrated industrial communities that keep pace with the requirements of modern industry while supporting the State’s efforts to enhance the competitiveness of the industrial sector. The ‘e² New October’ project is one of the developments that embodies this vision by providing a fully integrated industrial environment that meets the needs of both local and international investors and offers advanced infrastructure that supports sustainable industrial growth.”
He added: “We believe that the future of industrial development goes beyond providing basic infrastructure. It depends on delivering a fully integrated ecosystem of operational services, logistics solutions, and business support services that enable investors to achieve the highest levels of operational efficiency, enhance the competitiveness of their businesses, and create sustainable value that contributes to industrial and economic growth in Egypt.”
The e² New October project is one of the latest integrated industrial parks being developed by Industrial Development Group (IDG), which currently manages a network of four integrated industrial parks with a total area of 23.4 square kilometers in strategic locations across Egypt. These include e² October, East Port Said, e² Alamein, and e² New October. The project spans an area of 1.6 square kilometers and aims to develop more than 100 factories and industrial facilities, with expectations of creating more than 10,000 job opportunities. The project also enjoys a strategic location in New October City, providing easy access to Al Wahat Road, the Ring Road, and several major transportation corridors, thereby enhancing its logistics efficiency and investment appeal. It represents an extension of the Group’s vision to develop integrated industrial environments that enable investors to access regional and global markets across Africa, Asia, and Europe, while contributing to strengthening Egypt’s position as a regional hub for manufacturing and exports.
It is worth noting that, through this financing, Abu Dhabi Commercial Bank – Egypt further reinforces its role as a trusted financial partner that keeps pace with the evolving needs of its clients while supporting the State’s development plans. The Bank remains focused on strengthening the local manufacturing ecosystem, creating new employment opportunities, attracting foreign investment, and simultaneously advancing sustainable infrastructure and renewable energy solutions in line with the latest international standards and best practices to support a more resilient, competitive, and sustainable national economy. This financing also represents an extension of the Bank’s comprehensive sustainability strategy, under which it is committed to expanding its green financing portfolio and providing dedicated credit solutions and financing facilities to support its corporate clients, thereby accelerating the transition towards a low-carbon national economy.