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FINANCIAL NEWS
Egypt inks USD650mn loan deal with BNP Paribas
22 Dec 2016
(MENAFN) Egypt’s state-run Egyptian Elect Holding Co. has signed USD650mn loan agreement with BNP Paribas to finance the upgrade of Assiut and West Damietta power plants.
Additionally, the project is part of the country’s emergency power generation plans; phase II, aiming to convert the two plants from simple to joined cycle.
Moreover, an alliance covering U.S. General Elect and Egypt’s Orascom Construction will apply the upgrade of the two plants under the EPC finance system.
Meanwhile, Egyptian Minister of Investment had viewed the signing of the EEHC and BNP Paribas.
M
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