ERBD plans a $200 mln to Egypt’s Suez Petroleum

ERBD plans a $200 mln to Egypt’s Suez Petroleum

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The European Bank for Reconstruction and Development (EBRD)

The Gaza Post|The News of Palestine-Europe

The European Bank for Reconstruction and Development (EBRD) is planning a USD 200 mn loan to the Suez Oil Processing Company (SOPC) to finance a package of energy efficiency investments and other refurbishments and installations at the Suez refinery.

The loan is classified as a sovereign loan to Egypt and will be brought before the bank’s  board for a vote on 28 March.

The Project will focus on the installation of a New Vapour Recovery Unit (VRU), the refurbishment of the old coker unit and a number of energy efficiency investments identified to improve operational performance, environmental footprint and utilisation rate of the refinery.

Source:Amal El Ghad

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