July 30 (Reuters) - Papyrus Australia Ltd PPY.AX :
* Egypt update PPY.AX
* Papyrus Egypt has an offer of bank finance from the national bank of Egypt
* Says condition of the nbe is that security for this finance facility be a mortgage over the land and factory building at sohag
* Offer to facilitate the purchase from the company of the patented ppy machinery which was shipped to sohag in Egypt late last year
* Says the company has agreed to commission and make operational the bvu and other equipment and machinery in the sohag factory
* Says the egyptian banana fibre company have agreed to advance a further US$50K to assist the company
* Source text for Eikon ID:nASX1PsC6l