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The European Bank for Reconstruction and Development (EBRD) is planning to secure a $200 million loan for Egypt’s Suez Oil Processing Company (SOPC). The money will go for financing a package of energy efficiency investments and other refurbishments and installations at the company’s refinery in Suez.
It is a sovereign loan to Egypt and will be brought before the bank’s board for a vote on March 28.
The project will focus on the installation of a New Vapour Recovery Unit (VRU), the refurbishment of the old cooker unit and a number of energy efficiency investments identified to improve operational performance, environmental footprint, and rate of the refinery utilization.
