Banque Misr is set to provide letters of guarantee worth USD 162 mn for Orascom Construction and Arab Contractors for the water treatment plant project in Bahr Al Baqar, banking officials told Al Shorouk. The letters will be provided over two tranches with the first one worth 20% of the USD 739 mn estimated cost of the project, and the other worth 5%. The facility — set to be the biggest in Egypt — will treat around 5 mn cbm/d of water, which then will be used to irrigate agricultural land in Sinai. The OC-Arab Contractors JV will also be responsible for operating and maintaining the facility for five years.

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