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Oil & Gas

GASCO gets $200 mn loan from 8 local banks for Western Desert Gas Complex expansion

Posted: June 22, 2021 at 12:51 pm   /   by   /   comments (0)

GASCO gets USD 200 mn syndicated loan for facility expansion: A group of eight local banks led by the National Bank of Egypt have arranged a USD 200 mn (c. EGP 3.1 bn) syndicated loan for state-owned natural gas company GASCO, which plans to use the proceeds to finance expansions at its Western Desert Gas Complex in Amriya, banking sources said, confirming a report by Al Mal that quoted sources it said are in the know. The lenders include Banque Misr, Banque du Caire, CIB, QNB Al Ahli, the Arab African International Bank, Bank Audi. Each bank will provide USD 25 mn of the total amount.


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