{"id":592503,"date":"2023-08-07T00:00:00","date_gmt":"2023-08-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/07\/are-state-energy-firms-getting-egp-20-bn-in-loans-to-address-the-energy-crisis\/"},"modified":"2023-08-07T00:00:00","modified_gmt":"2023-08-07T00:00:00","slug":"are-state-energy-firms-getting-egp-20-bn-in-loans-to-address-the-energy-crisis","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/07\/are-state-energy-firms-getting-egp-20-bn-in-loans-to-address-the-energy-crisis\/","title":{"rendered":"Are state energy firms getting EGP 20 bn in loans to address the energy crisis?"},"content":{"rendered":"

Loans to keep the lights on: <\/strong>State utilities firm the Egyptian Electricity Holding Company (EEHC) and state oil company the Egyptian General Petroleum Corporation (EGPC) have each borrowed EGP 10 bn from local banks to shore up our power infrastructure and fuel supplies, according to separate reports from Asharq Business<\/a> and Al Shorouk<\/a>. The loans come as the country remains in the grip of a power crisis, with the government implementing a schedule of rolling blackouts<\/a> and other power-saving measures after a heatwave triggered a surge in electricity demand. <\/p>\n

#1- Power plant maintenance: <\/strong>EEHC reportedly borrowed EGP 10 bn from the National Bank of Kuwait Egypt (NBK Egypt<\/a>) to carry out maintenance on its power plants, Asharq Business reported yesterday, citing two sources it says are familiar with the matter. <\/p>\n

#2- Mazut imports: <\/strong>A consortium of 13 banks plans to sign a 10-year loan agreement worth EGP 10 bn with EGPC this month to import mazut, Al Shorouk reported yesterday, citing banking sources familiar with the matter. The consortium is led by the National Bank of Egypt and Banque Misr. <\/p>\n

REMEMBER-<\/strong> The government is shouldering the cost of an additional USD 250-300 mn<\/a> worth of mazut imports by the end of August after exhausting its supplies of the heavy oil. The first emergency shipment<\/a> arrived last week. <\/p>\n","protected":false},"excerpt":{"rendered":"

Half the money will go to power plant maintenance, and half to mazut imports<\/p>\n","protected":false},"author":1,"featured_media":592504,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7274],"tags":[88,1401,557,244,72,806,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-592503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-egyptian-electricity-holding-company","tag-egyptian-general-petroleum-corporation","tag-electricity","tag-enterpriseam","tag-nbk-egypt","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"1ab14cf6-992f-465a-931c-ef69d24ab6de","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/244.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt reportedly secures EGP 20 bn in loans to combat energy crisis","related_issue":[592494],"teaser":"Half the money will go to power plant maintenance, and half to mazut imports","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.dac5c881-6191-40ad-8bdc-4ec4b94a47a4.mp3"},"yoast_head":"\nAre state energy firms getting EGP 20 bn in loans to address the energy crisis? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/07\/are-state-energy-firms-getting-egp-20-bn-in-loans-to-address-the-energy-crisis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are state energy firms getting EGP 20 bn in loans to address the energy crisis?\" \/>\n<meta property=\"og:description\" content=\"Half the money will go to power plant maintenance, and half to mazut imports\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/07\/are-state-energy-firms-getting-egp-20-bn-in-loans-to-address-the-energy-crisis\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-07T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/244.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/07\/are-state-energy-firms-getting-egp-20-bn-in-loans-to-address-the-energy-crisis\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/07\/are-state-energy-firms-getting-egp-20-bn-in-loans-to-address-the-energy-crisis\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Are state energy firms getting EGP 20 bn in loans to address the energy crisis?\",\"datePublished\":\"2023-08-07T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/07\/are-state-energy-firms-getting-egp-20-bn-in-loans-to-address-the-energy-crisis\/\"},\"wordCount\":227,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/07\/are-state-energy-firms-getting-egp-20-bn-in-loans-to-address-the-energy-crisis\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/244.jpg?fit=%2C&ssl=1\",\"keywords\":[\"debt watch\",\"Egyptian Electricity Holding Company\",\"Egyptian General Petroleum Corporation\",\"electricity\",\"EnterpriseAM\",\"NBK Egypt\",\"oil and gas\"],\"articleSection\":[\"DEBT WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/07\/are-state-energy-firms-getting-egp-20-bn-in-loans-to-address-the-energy-crisis\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/07\/are-state-energy-firms-getting-egp-20-bn-in-loans-to-address-the-energy-crisis\/\",\"name\":\"Are state energy firms getting EGP 20 bn in loans to address the energy crisis? 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The financing will be allocated to expanding and improving the national grid as well as increasing power supply, sources tell the newspaper.","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567165,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/14\/egpc-borrows-usd-500-mn-from-afrexim-nbe-to-finance-crude-imports\/","url_meta":{"origin":592503,"position":1},"title":"EGPC borrows USD 500 mn from Afrexim, NBE to finance crude imports","author":"enterpriseam admin","date":"14 January 2020","format":false,"excerpt":"The Egyptian General Petroleum Corporation (EGPC) will borrow USD 500 mn from the African Export-Import Bank (Afrexim) and the National Bank of Egypt (NBE) to finance imports of crude and petroleum products, banking sources told Al Shorouk. The state-owned energy company signed contracts with the two banks at the end\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":625862,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/16\/electricity-ministry-in-talks-with-state-grid-over-new-capital-power-transmission-control-center\/","url_meta":{"origin":592503,"position":2},"title":"Electricity Ministry in talks with State Grid over new capital power transmission control center","author":"enterpriseam admin","date":"16 August 2018","format":false,"excerpt":"The Electricity Ministry is in talks with the State Grid Corporation of China (SGCC) to construct a power transmission control center in the new administrative capital, sources from the Egyptian Electricity Holding Company (EEHC) said, Al Mal reports. The control center is expected to cost some EGP 1 bn, which\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568601,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/28\/electricity-ministry-to-launch-tender-for-five-control-centers-across-the-country\/","url_meta":{"origin":592503,"position":3},"title":"Electricity Ministry to launch tender for five control centers across the country","author":"enterpriseam admin","date":"28 January 2020","format":false,"excerpt":"The Electricity Ministry will launch a tender for five power control centers in the Alexandria, Upper Egypt, Suez Canal and Greater Cairo areas 1Q2020, unnamed sources told Al Mal. Competing companies include General Electric, Siemens, ABB, Schneider Electric and China\u2019s State Grid Corporation. The Egyptian Electricity Holding Company will finance\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572590,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/30\/electricity-holding-company-seeks-egp-20-bn-loan-from-state-owned-private-banks\/","url_meta":{"origin":592503,"position":4},"title":"Electricity Holding Company seeks EGP 20 bn loan from state-owned, private banks","author":"enterpriseam admin","date":"30 June 2020","format":false,"excerpt":"The Egyptian Electricity Holding Company is in talks with a consortium of undisclosed state-owned and private banks to secure a 3- to 5-year medium term loan of EGP 20 bn for its FY2020-2021 investment plans, Al Mal reports, citing unnamed sources familiar with the matter. A final agreement for the\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":665469,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/19\/when-can-we-expect-electricity-prices-to-increase-next\/","url_meta":{"origin":592503,"position":5},"title":"When can we expect electricity prices to increase next?","author":"enterpriseam admin","date":"19 May 2025","format":false,"excerpt":"The Electricity Ministry last hiked electricity prices in September","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1491.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/592503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=592503"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/592503\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/592494"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/592504"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=592503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=592503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=592503"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=592503"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=592503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}