Daily News Egypt

Refinery receives $2.3 bln loan - Daily News Egypt

Advertising Area



Advertising Area




Refinery receives $2.3 bln loan

An Egyptian refining project has accumulated $2.3 billion in debt financing from a consortium led by Asian lenders. At a time when the European and US refining industries are struggling, a group of international export credit agencies and commercial lenders will provide Egyptian Refining with $2.3 billion to develop its $3.7 billion plant. The plant, …


An Egyptian refining project has accumulated $2.3 billion in debt financing from a consortium led by Asian lenders.

At a time when the European and US refining industries are struggling, a group of international export credit agencies and commercial lenders will provide Egyptian Refining with $2.3 billion to develop its $3.7 billion plant.

The plant, with a capacity of 80,000 barrels a day, will be constructed alongside the 140,000 b/d Mostorod refinery, 10 km north of Cairo will supply the local market with up to 40,000 b/d of high-quality, low-sulphur diesel, from September 2011.

The debt features direct lending and/or debt cover from Japan Bank for International Cooperation.

 

Advertising Area

Advertising Area



https://www.dailynewsegypt.com/2010/06/03/refinery-receives-23-bln-loan/
Breaking News

No current breaking news

Daily News Egypt Android App Available for free download on Google play
View
Daily News Egypt Ios App Available for free download on APP Store
View
Social Media Auto Publish Powered By : XYZScripts.com