NBE finances natural gas delivery to 200 brick factories in Arab Abu Saed
National Bank of Egypt financed 200 brick factories in Arab Abu Saed area in Giza, as part of NBE’s 2nd phase packages to finance industrial pollution control project.
The cost of delivering natural gas to these factories is about EGP 140 million, as the costs of the external network is EGP 70 million, the internal network is EGP 70 million and the fuel replacement is EGP 700 thousand.
National bank of Egypt offered a grant from its own resources; 20% of the total finance offered to these factories. NBE also studies financing all brick factories across Egypt, to replace diesel with natural gas.
The 200 brick factories have started using natural gas begging from this month.
This project was implemented in collaboration with Egyptian Environmental Affairs Agency, Town Gas Company and brick factories owners.
