Middle East Economic Survey

VOL. LIII

No 30

26-Jul-2010

EGYPT

ERCs $2.35Bn Musturud Refinery Project Financing Nears Completion

The Egyptian Refinery Company (ERC) project financing for the Musturud refinery expansion and upgrade is nearing completion and is scheduled for signing end-July. The deal, which will be North Africas largest energy project financing, is now $350mn oversubscribed after attracting 10 additional international and regional banks to its original group of lenders, MEES learns....