BNP Paribas leads syndicate funding EUR 200 mn power transmission stations

A syndicate led by BNP Paribas has signed an EPC-plus-finance funding agreement with the Egyptian Electricity Transmission Company for six new power transmission stations worth EUR 200 mn, Al Borsa reported. Siemens and El Sewedy Electric will be jointly constructing the stations as part of an MoU the Electricity Ministry had signed with Siemens at the Egypt Economic Development Conference in 2015, which also entails developing four existing transmission stations and building two new ones by October 2017. The stations, which will connect the three new Siemens power plants to the national grid, are part of the Electricity Ministry’s EGP 15 bn plan to develop Egypt’s power transmission infrastructure.