Hassan Allam 1 (IFC-37831)

  • Egypt
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Aug 17, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Hassan Allam Construction
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Construction
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. 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
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed 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
Here you can find a list of individual development financial institutions that finance the project.
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
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
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/

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