Arab Today, arab today egyptian banks to fund electricity project in suez
Last Updated : GMT 17:43:15
Arab Today, arab today
Arab Today, arab today

1.6bn EGP financial package signed

Egyptian banks to fund electricity project in Suez

Arab Today, arab today

Arab Today, arab today Egyptian banks to fund electricity project in Suez

Egypt's five-year plan is expected to cost 80 billion EGP
Cairo - Mohi al-Kardousi

Egypt\'s five-year plan is expected to cost 80 billion EGP Egyptian National Bank, along with four other banks have signed a contract with East Delta Electricity Production Company (EDEPC) to provide financing of up to 1.6 billion EGP for a thermal power station in Suez. The project, which could

cost 6.2 billion EGP in total, is part of Egypt’s five-year plan.
Vice-chairperson of the Egyptian National Bank, Sherif Olwy, said that his bank and Banque Misr would provide 75 percent of the loan. It is believed the Egyptian National Bank will pay 810 million EGP, while Banque Misr would pay 400 million EGP.
He added that cooperation between the different sectors to support the development of Egypt’s electricity is important, whether in terms of funding or financing alternatives.
Vice-chairperson of Banque Misr, Mohamed Abbas Faied, said that the banks studied the financial requirements of the electricity sector, adding that the they were working to meet the financial needs of what is seen as an important national sector.
He stressed that the Egyptian banks appreciate that the Egyptian electricity sector suffers from high pressures because of the potential shortfall in generating electricity, clarifying that the banks expressed their readiness to finance the five-year plan, which extends to 2017.
He added that the banks and electricity sector should be prepared for the consumptions and additions that will occur on the national network to provide the necessary funding.
Hamdy Azab, chairperson of East Delta Electricity Production Company, said that the banks decided to help the sector because they realise the pressure on companies.
Mohamed Helmy Habib, an official in Egypt’s Holding Company of Electricity, said that the investments between 2007 to 2012 had reached 60 billion EGP. In the five-year plan between 2012 to 2017, this figure will be closer to 80 billion EGP.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today egyptian banks to fund electricity project in suez Arab Today, arab today egyptian banks to fund electricity project in suez

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 12:38 2017 Thursday ,23 February

Lower fares hit Qantas first half profit

GMT 10:57 2017 Thursday ,23 February

Chief executive out at Paramount Pictures

GMT 07:26 2017 Thursday ,23 February

A peek inside Qatar's 'gas capital of the world'

GMT 11:26 2017 Wednesday ,22 February

Dutch corporate takeover defences tough to breach

GMT 11:14 2017 Wednesday ,22 February

Lloyds Banking Group posts surging profits

GMT 10:01 2017 Tuesday ,21 February

Egypt pound rebounds from flotation slide

GMT 09:57 2017 Tuesday ,21 February

Greece agrees to bailout reforms compromise
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday