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- Glass Container Company (GCC)
Glass Container Company (GCC)
Egypt
| Borrower | Glass Container Company |
| Financing Type | Private Sector & Trade Finance |
| Instrument | Private Sector Equity |
| Focus Area | Industry |
| Approved | 24.09.2002 |
| Signed | 23.01.2003 |
| Status | Completed |
| Loan Administrator | OPEC Fund |
| OPEC Fund Contribution (US$m) | 4.41 |
The Glass Container Company was formed in
May 2001 to undertake the production of high
quality glass bottles and containers for use in the
pharmaceutical, food and beverage industries.
The Fund has subscribed for 15% of the share capital through a private placement. The hightech
glass production facility, which will cost a total
of $64 million, is expected to achieve an annual
capacity of some 84,000 tons of finished products,
thus helping Egypt attain self-sufficiency in
the production of containers for pharmaceutical
products, food and beverages.