ECHEM's EBIOL inks $135M financing deal with banking consortium for bioethanol project
Updated 11/2/2025 8:40:00 AM
Arab Finance: The Egyptian Bioethanol Company (EBIOL), a unit of the Egyptian Petrochemicals Holding Company (ECHEM), signed a long-term joint financing agreement worth $135 million with a banking consortium for a project in Damietta, according to a statement.
The banking alliance included the National Bank of Egypt (NBE), the Commercial Bank International (CBI), Banque du Caire, Qatar National Bank (QNB), Arab African International Bank, Housing and Development Bank (HD Bank), and Al Baraka Bank Egypt.
Minister of Petroleum and Mineral Resources Karim Badawi witnessed the signing of the Bioethanol project.
The project will be carried out within the framework of the ministry’s second and fifth strategic pillars, aiming at expanding new green production projects in the petrochemical sector, reducing carbon emissions, and backing environmental sustainability.
It will help produce 100,000 tons of low-emission, economically high-value biofuel annually, depending on sugar beet molasses as a raw material for the production of bioethanol, which can be mixed with gasoline in specific proportions or used in industries such as inks, paints, and others.
Moreover, it is expected to deliver an estimated $100 million in added value annually.
Badawi affirmed that the project will contribute to promoting Egypt’s competitiveness in exporting low-carbon products.
Related News
