almal > RightWingAd
almal > LeftWingAd

Misr Travel obtains financing of EGP 250mn from India to renovate fleet

Monday 06 August 2018 03:12 PM

Misr Travel
Misr Travel

By Doaa Mahmoud:
Misr Travel, a subsidiary of Holding Company for Tourism and Hotels (HOTAC), has received a facilitated loan of EGP 250mn from the Indian government to upgrade its vehicles fleet during current and next year, according to the chairman of Misr Travel Rashad Refaie.
Refaie told Al Mal newspaper that 20 buses are to be purchased and 10 mini-buses, adding that his firm has a fleet of 105 buses.
He stated that his company obtained the loan with 1.5% interest rate through the ministry of investment adding that there is a grace period of 5 years and that repayment duration is 20 years.
The new vehicles will be delivered the end of the current year, according to Refaie.