National Bank of Egypt (NBE) inked an agreement to secure financing of EGP1.98bn for Alexandria National Refining & Petrochemicals Company (ANRPC). The funding will be utilised to launch two gasoline units. Deputy Chairman of NBE, Mahmoud Montasser, said that the new financing includes a proportion in foreign currency of USD50mn, adding that NBE and ANRPC are currently finalising the financing contract expected to be signed in June 2016. The loan duration is eight years. The two units will produce 850,000 tonnes of gasoline a year. (Al Mal)
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