Middle East Economic Survey

VOL. LIII

No 27

5-Jul-2010

EGYPT

Musturud Refinery Project Attracts Additional Lenders

The Egyptian Refinery Company (ERC) has attracted additional lenders to its project financing for the Musturud refinery expansion and upgrade. The company was seeking a further $1.1bn of the $2.35bn debt needed for the project, which is costing a total of $3.7bn and will be North Africas largest project financing. The balance of the total project cost will come from equity. Ten...