ZINAFRIK Group and Elite Capital & Co. sign Financing Agreement for the Largest Green Logistics Hub in the Middle East
LOGINTEK - New Economic Hub for the Kingdom of Morocco
CASABLANCA, Morocco , Feb. 21, 2023 (GLOBE NEWSWIRE) -- Mr. Samir Al Filali, President of ZINAFRIK Group, announced today that his group has signed a Financing Agreement with Elite Capital & Co. Limited to finance the Largest Green Economic, Logistics, and Industrial Hub in the Middle East.
“Today, ZINAFRIK Group signed a Financing Agreement with one of the most important and leading financial companies, Elite Capital & Co. Limited, after negotiations led by its Chairman, Dr. Faisal Khazaal since November 2022 which culminated in this exceptional event to finance the LOGINTEK Hub, a smart industrial, economic, integrated, and ECO green city in the Kingdom of Morocco,” Mr. Samir Al Filali said.
ZINAFRIK group, a family group with more than 40 years of experience in the industrial sector, is a private economic player specializing in industrialized development at the service of logistics, industrial and technological promotion. The Group is also present in the fields of construction, international trading, industrialization of construction and logistics, industrial and real estate development.
As a major player in the Moroccan economy, ZINAFRIK group has launched LOGINTEK (The First Industrial, Economic, Integrated and Eco green Smart City), unique in its kind, this project is designed according to European standards to meet the requirements of the most advanced technologies and ensure respect for the environment. LOGINTEK is made up of the multi-flow bonded area and the world class industrial area in addition to five other areas including a bonded dry port, a car park dedicated to international road transport (TIR), a technology park and finally a one-stop shop. The project also provides for a large residential area to accommodate the families of the 12,000 employees planned for this project.
Mr. George Matharu, President and CEO of Elite Capital & Co. Limited, added, "60% of the project value will be funded through Elite Capital & Co., while ZINAFRIK Group will provide 40% self-financing for the project, which has already begun, as the project (LOGINTEK Hub) is now entering the implementation phase."
Elite Capital & Co. Limited is a Financial Management company that provides project-related services including Management, Consultancy, and Funding, particularly for large infrastructure and mega commercial projects.
Elite Capital & Co. Limited offers a wealth of experience in Banking and Financial transactions and has a range of specialized advisory services for private clients, medium and large corporations as well as governments. It is also the exclusive manager of the Government Future Financing 2030 Program®.
Mr. Samir Al Filali concluded his statement by saying, “Certainly, we thank the wonderful team at Elite Capital & Co. for the facilities they provided for the realization of this project, but we must also not forget to extend our thanks to the team of our subsidiary, ZINAFRIK Developpement, SRL., for their leadership on the LOGINTEK Hub project.”
Contact Details –
Elite Capital & Co. Limited
33 St. James Square
Telephone: +44 (0) 203 709 5060
SWIFT Code: ELCTGB21
LEI Code: 254900NNN237BBHG7S26