EBRD approves $11 million loan for Egyptian petrochemical project: minister

By Yomna Yasser On May 14, 2017

The European Bank for Reconstruction and Development (EBRD) has approved a $11 million loan for Egyptian petrochemical producer, Carbon Holdings Company, Minister of Investment and International Cooperation said Saturday.

The loan will be used to improve the standards of manufacturing to meet the standards of the ISO certificate in Carbon Holdings’ affiliate, Egyptian Company for Hydrocarbon, Minister Sahar Nasr stated.

Nasr said that the loan will be used to establish a pilot project that will open the door for establishing a new factory for producing polypropylene to Egypt and African markets.