GPC to Raise EGP 3.2B

GPC to Raise EGP 3.2B
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Al Ahli Bank of Kuwait (AKB) will partially finance an EGP 3.2 billion loan package to the General Petroleum Company (GPC) to support exploration and drilling operations, Amwal Al Ghad reports.

AKP will provide EGP 200 million to GPC. The Arab African International Bank, Banque Misr, and Egypt Gulf Bank will also loan funds to GPC as part of the loan package.

The company will use some of the funds to drill sixteen wells and build two piers.

Sarah Samir 2538 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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