The Egyptian General Petroleum Corporation (EGPC) is studying obtaining a $750 million loan from foreign lenders, Amwal Al Ghad reported.

EGPC and its subsidiaries are considered major local borrowers, taking loans in both EGP and foreign currency.

Last month EGPC obtained a letter of credit worth $181.5 million from Banque Misr. The agreement will help EGPC pay for imports of crude oil and petroleum products.