Town Gas In Talks With NBE Over EGP 80 Mln Project

Eng. Saif Al-Islam Abdel-Fattah, Chairman of Town Gas, said the firm is currently conducting talks with the National Bank of Egypt (NBE) as it seeks to obtain NBE’s finance for its project worth EGP 80 million. Town Gas’s project is planning to deliver the natural gas to Gerza industrial City located in Giza Governorate, Saif Al-Islam noted.

The project shall save about EGP half a billion annually after completion. 

Town Gas Chairman further stated that the firm is currently finalizing the technical studies on the project which targets delivering the natural gas to 100 factories in Gerza.  Saif Al-Islam expected that the firm will obtain the NBE finance and start carrying out the project by the coming year. The firm is planning to complete the project within 14 to 18 months from the date of signing the protocol with the bank, he added.