Hassan Allam 1 (IFC-37831)

Countries
  • Egypt
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Aug 17, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Hassan Allam Construction
The holder of the loan, grant, or other investment.
Sectors
  • Construction
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 21, 2017

Disclosed by Bank Apr 26, 2016


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Project Description
Hassan Allam Holdings (”HAH”, or “the company”) is a leading construction company in Egypt. The company is currently undergoing a significant capital expenditure program to expand its construction equipment fleet and meet rapidly growing business needs. In addition, the company is also looking to diversify its activities by developing and taking partial ownership stakes in a select number of independent power projects in Egypt. IFC is considering supporting the company by making an investment of up to US$ 40 million, comprising up to US$ 20 million in senior debt and $20 million in equity/quasi-equity. Hassan Allam Construction (“H.A.C.”) is the main Holdings subsidiary and the source of almost all of the company’s revenues at present. Subsidiaries in Saudi Arabia and Algeria were established in 2011 and 2009 respectively.
Investment Description
  • International Finance Corporation (IFC)
IFC is considering supporting the Group’s growth by investing up to US$15 million as senior debt and US$15 million as equity/quasi-equity.
Contact Information
Company Contact Information Mohy-Eldin Abdin Executive Director & Group Chief Financial Officer Hassan Allam Holding S.A.E. 5 Yehia Zakaria Street, Industrial Zone, Sheraton Heliopolis Housing, Cairo 11361 Egypt Email: mailto:mohy.abdin@allamsons.com Fax/Tel: +202 2678 5920 / +202 2678 5917 Accountability Mechanism of the IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/