{"id":603692,"date":"2023-08-20T00:00:00","date_gmt":"2023-08-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/20\/ebrd-has-funding-for-damietta-port-and-is-pushing-forward-liberalization-of-our-electricity-grid\/"},"modified":"2023-08-20T00:00:00","modified_gmt":"2023-08-20T00:00:00","slug":"ebrd-has-funding-for-damietta-port-and-is-pushing-forward-liberalization-of-our-electricity-grid","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/20\/ebrd-has-funding-for-damietta-port-and-is-pushing-forward-liberalization-of-our-electricity-grid\/","title":{"rendered":"EBRD has funding for Damietta Port \u2014 and is pushing forward liberalization of our electricity grid"},"content":{"rendered":"

The <\/strong> E <\/strong> uropean Bank for <\/strong> Reconstruction and Development (EBRD) is expected to approve a USD 125 mn loan <\/strong> on 4 October to finance the \u201csuperstructure and purchase of equipment\u201d for Damietta Port\u2019s second container terminal, according to a disclosure on the lender\u2019s website<\/a>. <\/p>\n

This is a third of the total financing package: <\/strong>The loan is part of a USD 455 mn financing package involving the EBRD, the Asian Infrastructure Investment Bank (AIIB), Deutsche Investitions und Entwicklungsgesellschaft (DEG), the International Finance Corporation (IFC), and the French Development Agency\u2019s private-sector investment arm Proparco, according to EBRD\u2019s website. <\/p>\n

A consortium of European companies are working on the project: <\/strong> Hapag-Lloyd, Eurogate Terminals, and Contship Italia signed an agreement<\/a> with the Damietta Port Authority last year for the USD 665 mn project. The firms will establish the terminal under a 30-year build-operate-transfer framework. The terminal will have a final capacity of 3.3 mn TEUs and is expected to begin operating by 2024, raising the port\u2019s total capacity to 4.7 mn TEU by the third year of its operation.<\/p>\n

Where the money\u2019s going: <\/strong> The loan will finance the construction of the terminal, the cargo handling equipment, and workforce training. The port authority is handling the dredging and quay wall constructions and are not being financed by the lender, according to the disclosure.<\/p>\n

This is a 100% private-sector venture: <\/strong> The three European companies will collectively own 98% of the joint venture, with Hapag-Lloyd holding 39%, and Eurogate and Contship Italia each owning 29.5%. Two Egyptian private sector firms \u2014 Middle East Logistics & Consultants and Ship & CREW Egypt \u2014 each hold a 1% stake.<\/p>\n

GOOD NEWS FOR POWER PRODUCERS- <\/strong><\/p>\n

Have we just taken a step toward a proper \u201cwheeling\u201d framework? <\/strong>The EBRD is advising the Egyptian Electric Utility and Consumer Protection Regulatory Agency (Egyptera) on opening the local electricity market to the private sector, the Electricity Ministry said<\/a> Thursday. Funded by a grant, the multilateral lender is working with Egyptera to improve its regulatory framework to promote a more competitive market and increase the private sector\u2019s role in producing, distributing and selling power, it said.<\/p>\n

Why this matters: <\/strong>Private-sector players have long been asking for the ability to use the state\u2019s electricity grid to transmit electricity to their end clients. Today, clients operating solar and wind facilities generate electricity and sell it to the state under a long-term offtake agreement. Energy producers wish they could effectively \u201crent\u201d the state\u2019s grid: Use it, for a fee, to green electricity directly to their end clients. In industry speak, that\u2019s called \u201cwheeling.\u201d We\u2019ve spoken of this before here<\/a> and here<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

EBRD is also working with Egyptera on a a wheeling framework for the national electricity grid<\/p>\n","protected":false},"author":1,"featured_media":603693,"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":[7278],"tags":[1830,11472,11471,101,571,769,770,72,1829,8270,7111,145],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-603692","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infrastructure","tag-contship-italia","tag-damietta-port","tag-damietta-port-authority","tag-development-finance","tag-ebrd","tag-egyptera","tag-electricity-ministry","tag-enterpriseam","tag-eurogate","tag-hapag-lloyd","tag-infrastructure","tag-logistics","wpautop","entry"],"acf":{"mongo_id":"4278776a-0cae-4593-86f5-b392cf4a0637","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/888.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EBRD could provide USD 125 mn loan for Damietta Port cargo terminal \u2014 and is pushing forward liberalization of Egypt\u2019s electricity grid","related_issue":[603685],"teaser":"EBRD is also working with Egyptera on a a wheeling framework for the national electricity grid","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.44110ffd-4697-4b87-a595-8e1eb8824663.mp3"},"yoast_head":"\nEBRD has funding for Damietta Port \u2014 and is pushing forward liberalization of our electricity grid - 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\/20\/ebrd-has-funding-for-damietta-port-and-is-pushing-forward-liberalization-of-our-electricity-grid\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EBRD has 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EBRD, the AIIB and other multilateral lenders","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1360.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":612492,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/24\/damietta-port-lines-up-usd-455-mn-for-second-cargo-terminal\/","url_meta":{"origin":603692,"position":1},"title":"Damietta Port lines up USD 455 mn for second cargo terminal","author":"enterpriseam admin","date":"24 December 2023","format":false,"excerpt":"The terminal will have a final capacity of 3.5 mn TEUs and begin operation by 2024.","rel":"","context":"In "Logistics"","block_context":{"text":"Logistics","link":"https:\/\/enterpriseam.com\/egypt\/category\/logistics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1512.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571564,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/planning-ministry-approves-usd-300-mn-ebrd-loan-to-build-container-terminal-at-damietta-port\/","url_meta":{"origin":603692,"position":2},"title":"Planning Ministry approves USD 300 mn EBRD loan to build container terminal at Damietta Port","author":"enterpriseam admin","date":"17 May 2020","format":false,"excerpt":"DEBT WATCH- Planning Ministry approves USD 300 mn EBRD loan for Damietta port: The Planning Ministry has given Damietta Port Authority the green light to obtain a USD 300 mn loan from the European Bank for Reconstruction and Development (EBRD) to finance the construction of a second container terminal at\u2026","rel":"","context":"In "Speed 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The banks include NBE, CIB, QNB, and AAIB, while the international financiers include EBRD, IFC, and JICA. The\u2026","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599860,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/13\/ebrd-preliminarily-agrees-to-lend-eur-400-mn-to-egypts-damietta-port-authority\/","url_meta":{"origin":603692,"position":4},"title":"EBRD preliminarily agrees to lend EUR 400 mn to Egypt\u2019s Damietta Port Authority","author":"enterpriseam admin","date":"13 January 2019","format":false,"excerpt":"The European Bank for Reconstruction and Development (EBRD) has agreed in principle to lend EUR 400 mn to the Damietta Port Authority to finance the construction of a second container terminal at the port, banking sources told Al Shorouk. The authority was set last year to sign a EUR 305\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":622619,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/08\/finance-ministry-to-receive-usd-150-mn-loan-from-ebrd-for-damietta-mansoura-freight-line\/","url_meta":{"origin":603692,"position":5},"title":"Finance Ministry to receive USD 150 mn loan from EBRD for Damietta-Mansoura freight line","author":"enterpriseam admin","date":"8 October 2018","format":false,"excerpt":"The European Bank for Reconstruction and Development (EBRD) has agreed to give the Finance Ministry a USD 150 mn loan to finance the automation of the signaling system on the Damietta-Mansoura cargo railway line, Minister Hisham Arafat said, Al Shorouk reports. No further details were provided, but Arafat said that\u2026","rel":"","context":"In "Automotive + Transportation"","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/603692","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=603692"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/603692\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/603685"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/603693"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=603692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=603692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=603692"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=603692"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=603692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}