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.