Egyptian Bioethanol Company lands $135M funding for first facility

In Egypt, the Minister of Petroleum and Minerals witnessed the signing of a long-term joint financing contract in the value of $135 million for the Egyptian Bioethanol Company’s project belonging to the Egyptian Petrochemicals Holding Company (ECHEM), scheduled to be implemented in Damietta Governorate, with a banking alliance that includes the banks of Al Ahli Egyptian, Commercial International, Cairo, Qatar National, Arab African International, Al Baraka Egypt.

The implementation of the project comes within the framework of the goals of the second and fifth axes of the Ministry’s strategy to expand new projects for green production in the petrochemical sector, reduce carbon emissions and environmental sustainability, where the project contributes to the production of 100,000 tons.