EEHC borrows EGP 10B from NBK Egypt to maintain power grids

Updated 8/6/2023 8:11:00 AM
EEHC borrows EGP 10B from NBK Egypt to maintain power grids

Arab Finance: The Egyptian Electricity Holding Company (EEHC) has borrowed EGP 10 billion from the National Bank of Kuwait - Egypt (NBK Egypt) to carry out power grids' maintenance, two sources familiar with the matter told Asharq Business on August 6th.

The loan comes amid the country’s current power cuts crisis to reduce loads on the national grid.

It is worth noting that Egypt, reportedly, needs around 135 million square meters of natural gas as well as 10,000 tons of mazut daily in order to end the current power outages

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