Three banks planning multi-billion pound loan to build power plants in Cairo
A consortium of three Egyptian banks is set to arrange a multi-billion Egyptian pound syndicated loan to build two power stations in Cairo.
The National Bank of Egypt (NBE), Banque Du Caire, and the Commercial International Bank (CIB) are to secure a syndicated loan worth 1.9 billion Egyptian pounds (US$236.6 million) in favour of state-owned Cairo Electricity Production Company (CEPC) so as to establish two power stations.
The two stations will locate in the 6th of October city and west Cairo, a senior banking source told Amwal Al Ghad Tuesday.
The term of the loan ranges between five to ten years, the source added.
