Oil & Gas

EBRD to loan Suez Oil Processing Co. $200 milion

Suez Oil Processing Co

The European Bank for Reconstruction and Development (EBRD) is provisioning a USD 200 million 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,” according to the EBRD project website.

The loan is classified as a sovereign loan to Egypt and will be brought before the board for a vote on 28 March. A technical cooperation fund will allocate EUR 83k to environmental and feasibility studies.

(Source: Enterprise.press)

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