Contribute Information
Can you contribute information about this project?
Contact the EWS Team
Kandil Steel S.A.E. is the leading downstream flat steel supplier in Egypt and having export capacity. The proposed investment is a US$25 million financing package comprised of an IFC A loan of up to US$12.5 million and mobilization of up to US$12.5 million to finance the Company’s permanent working capital needs.
As stated by the IFC, Kandil Steel is a downstream flat steel value-add and re-rolling holding company in Egypt. The Company is specialized in producing cold-rolled steel, galvanized rolled steel and pre-painted flat steel products. Kandil owns two main operating subsidiaries; i) Kama Coating; and ii) El Obour Metallurgical Industries. These subsidiaries produce cold rolled coils, dark annealed steel (blue steel), cold rolled galvanized steel, and pre-painted steel for local and export markets. As of 2022, Kandil had an installed capacity of 708,000 tons per annum with exports to over 40 countries.
Kandil Steel is owned by the Kandil family (86.2%), Marubeni Itochu Steel Inc, Japan (10.1%), and JFE Steel Corporation, Japan (3.7%).
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | JFE Steel Corporation | Investor | Industry and Trade |
- | - | - | - | Kandil Steel SAE | Client | Industry and Trade |
- | - | - | - | Marubeni-Itochu Steel Inc | Investor | Industry and Trade |
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Client - Kandil Steel S.A.E.:
Baher Abdelmalek - Chief Corporate Development Officer
Phone: +20 1005155036
Email: b.malek@kandil.com
Address: Parcel of Land No. 5, Block 13035-11771, Industrial Zone, Obour City, Cairo, Egypt
Website: www.Kandil.com
ACCESS TO INFORMATION
You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries
If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.
ACCOUNTABILITY MECHANISM OF IFC/MIGA
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