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EBRD loans Alexandria Petroleum $250 mn for efficiency upgrades

APC
Posted: October 11, 2020 at 12:32 pm   /   by   /   comments (0)

Egypt’s Alexandria Petroleum going greener with USD 250 million EBRD loan: The European Bank for Reconstruction and Development (EBRD) will provide state-owned Alexandria Petroleum Company (APC) with a USD 250 mn sovereign loan to partially finance USD 647 mn in water and energy efficiency upgrades at the company’s diesel refinery, according to an EBRD statement.

The project will bring operations at the facility in line with European environmental safety standards and reduce emissions, the bank said. Raising the quality of fuel produced by the refinery will cut down on greenhouse gases, while the construction of a new wastewater treatment facility aims to lower the risk of seawater pollution and a new energy management system will help to reduce fuel consumption.

(Source: Enterprise.press)

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