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Tuesday, 30 June 2020

Electricity Holding Company seeks EGP 20 bn loan from state-owned, private banks

The Egyptian Electricity Holding Company is in talks with a consortium of undisclosed state-owned and private banks to secure a 3- to 5-year medium term loan of EGP 20 bn for its FY2020-2021 investment plans, Al Mal reports, citing unnamed sources familiar with the matter. A final agreement for the loan should be signed by August at the latest. The company plans to invest EGP 32.4 bn in the coming fiscal year, including to increase the national electricity grid’s capacity by 145 MW.

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