NBE Mulls Providing EMC With EGP 100 Mln Credit Facilities

The National Bank of Egypt (NBE) considers offering new credit facilities worth EGP 100 million to the Egyptian Maintenance Company (EMC) working in the petroleum sector.

Sources said EMC received credit facilities worth EGP 100 million from the bank in the last period. The finance will be used in restructuring and maintaining the company’s oil laboratories and wells.

EMC is owned equally by the Egyptian petroleum sector and Norwegian investors. It provides the “Turn-Key Engineered Solutions” for oil and gas sector, petrochemicals, power generation and infrastructure industries. It offers engineering, procurement and construction services in conform with the international quality, health and safety standards, as well as the environment protection requirements.