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FINANCIAL NEWS
EETC, NBE ink EGP18bn loan to boost transmission network in Egypt
13 Feb 2017
(MENAFN) The Egyptian Elect Transmission Co. (EETC) confirmed with the National Bank of Egypt (NBE) to borrow EGP18bn to enhance the national elect grid.
Accordingly, the firm will ink the deals with NBE at the end of the month, which will be a long term loan disbursed over two tranches to pay the dues.
Meanwhile, the company has been looking a loan to finance projects of new elect lines to transmit energy.
Moreover, the Ministry of Elect plans to apply new projects in the field of transmission and distribution of elect at a cost of EGP37bn.
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MENAFN1302201700450000ID1095244598
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