PetroTrade is in talks for an EGP 2.
5 billion loan, Amal News reports.
The funds will be used to pay the company’s dues to the General Petroleum Corporation.
The company has sent inquiries to a number of banks – National Bank, Banque Misr, Banque Du Caire, Qatar National Bank, Arab African International Bank, and Commercial International Bank – about a possible loan package with a five-year maturity, the newspaper reports.
Last year, PetroTrade took out an EGP 5 billion loan from a banking consortium that included, among others, the National Bank, Banque Misr, Banque Du Caire, Arab African International Bank, Abu Dhabi National Bank, and Audi, according to Amal News.
PetroTrade is a state-run company that specializes in the billing and collecting of natural gas bills.