Companies & Finance

EEHC fails to secure loan from Banque Misr

Egyptian Electricity Holding Co. (EEHC) has not secured a $230 million loan from Banque Misr,
By Staff reporter 12 July 2018 0 31715

Egyptian Electricity Holding Co. (EEHC) has not secured a $230 million loan from Banque Misr, local media outlet Mubasher has reported the Egyptian bank’s vice chairman, Akef Abdel el-Maghraby, as saying.

An official at Egypt’s energy ministry said earlier this month that EEHC had secured a loan from Banque Misr to finance its investment plan. Egypt signed agreements for loans with HSBC and Credit Suisse, among others, for $900 million to finance EEHC’s spending plans in June.