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EETC secures $116M loan for new transformer stations

Date :2017/10/23 16:46:50

EETC secures $116M loan for new transformer stations

 

The Egyptian Electric Company (EETC) received € 98.5 million ($ 116 million) in loans from BNP Paribas for the establishment and installation of two 220-kilovolt substations in Samannoud and Abu al-Matamir.

 

The substations, with power transformers and associated electrical equipment, will be erected by Siemens and El Swedey, reports Daily News Egypt.

 

The loan will be used for financing 85% of the foreign part of the project between Siemens and EETC, which forms part of the agreement between the Egyptian government and Siemens signed in March 2015.

 

The substation will transfer the power of the world's largest composite recycling plant, Al Borollos, to about 15 million consumers.

 

Article from:

      http://www.transformers-magazine.com/