Middle East Economic Survey

VOL. LIII

No 5

1-Feb-2010

EGYPT

North Africas Largest Project Financing Eyes Finishing Line

North Africas largest project financing for the $3.5bn upgrading of the Egyptian Refinery Companys (ERCs) Musturud refinery has the finishing line in sight after being slowed to a crawl by the global financial crisis. The deal, which has metamorphosed considerably to enable it to attract sufficient funds in an environment characterized by reduced global bank...