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Tuesday, 20 December 2016

Orascom Construction looking to borrow USD 50 mn

Orascom Construction (OC) is seeking USD 50 mn in funding to construct a 50 MW solar power plant in Benban, Aswan. Khaled El Degwy, concessions director at OC, told Al Mal the company is in talks with the EBRD, IFC, and another international institution he did not name. The funding OC is seeking would cover part of the total financing cost estimated at USD 70-75 mn. El Degwy says OC’s successful participation in the feed-in tariff’s second phase is contingent on securing the required funding for the project.

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