ERC linked to Egyptian businessman Ahmed Heikal cuts $417 million debt, moves closer to dividends
Billionaires Africa | 24.12.2025 17:06
Egyptian Refining Company, a subsidiary of Qalaa Holdings, a leading investment holding founded by Egyptian businessman Ahmed Heikal, has completed the repayment of $417 million to its lenders, a step that sharply cuts the refinery’s senior debt and brings one of Egypt’s largest energy projects closer to financial stability.
