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FINANCIAL NEWS
Egypt’s EETC inks USD757m loan deal with Bank of China
08 Nov 2016
(MENAFN) The Egyptian Elect Transmission Co. (EETC) has signed USD757mn loan deal with the Export-Import Bank of China to finance the establishment of 1.210 km-long elect lines.
Accordingly, Chinese State Grid has started the installation of the lines in many locations and obtained the advance in the contract.
Moreover, the Chinese firm is handling the implementation of the project, which includes establishing the project, its design as well as the collection of funds from banks.
The Ministry of Elect and Renewable Energy has allocated EGP11.4bn to support the unified grid for elect transmission to cope with the anticipated overload in summer 2017.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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