Egypt's OCI secures $1.9 bln in credit facilities

Egypt's Orascom Construction Industries (OCI), the country's biggest listed company, said on Tuesday its fertiliser subsidiaries had signed credit facilities worth $1.9 billion with international and local banks. The group plans to use the facilities to refinance its existing credit facilities. OCI plans on separating its fertiliser and construction businesses into two legal entities under a single holding company. It said in a statement that the credit facilities would help it carry out the split.