{"id":625469,"date":"2018-08-06T03:50:28","date_gmt":"2018-08-06T03:50:28","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/06\/afreximbank-provides-a-usd-200-mn-loan-to-finance-state-owned-midor-expansion-plans\/"},"modified":"2018-08-06T03:50:28","modified_gmt":"2018-08-06T03:50:28","slug":"afreximbank-provides-a-usd-200-mn-loan-to-finance-state-owned-midor-expansion-plans","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/06\/afreximbank-provides-a-usd-200-mn-loan-to-finance-state-owned-midor-expansion-plans\/","title":{"rendered":"Afreximbank provides a USD 200 mn loan to finance state-owned MIDOR expansion plans"},"content":{"rendered":"<p>The EGPC received a <u><a href=\"https:\/\/enterprise.press\/stories\/2018\/07\/16\/midor-looks-to-afreximbank-adib-for-usd-200-mn-loan-to-finance-refinery-expansions\/\">USD 200 mn loan<\/a><\/u> from the African Export-Import Bank (Afreximbank) on 31 July, which will be used to finance the expansion of state-owned MIDOR\u2019s refining facility, <u><a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=05082018&id=4196d5f2-f5e7-429f-87e4-3b3f80b2ccda\">banking sources tell Al Shorouk<\/a><\/u>. The loan has a five-year tenor, they added, and Abu Dhabi Islamic Bank (ADIB) acted as financial adviser for the EGPC on the agreement. MIDOR had <u><a href=\"https:\/\/enterprise.press\/issues\/2016\/02\/24\/rumor-mill-claims-8-10-ministers-exit-stage-right-ismail-form-new-cabinet\/\">secured a USD 1.2 bn loan<\/a><\/u>from France\u2019s Cr\u00e9dit Agricole, BNP Paribas, and Italy\u2019s CDP in 2016 to finance the USD 2.2 bn project, which will expand its refining capacity to 175k barrels of crude per day from a current 115k barrels. The project is being developed by Italy\u2019s Technip, which had signed a <u><a href=\"https:\/\/enterprise.press\/stories\/2018\/06\/10\/midor-signs-usd-1-7-bn-agreement-with-italys-technip-to-maximize-production\/\">USD 1.7 bn agreement with MIDOR<\/a><\/u> in June. Afreximbank said in June it is planning to provide as much as <u><a href=\"https:\/\/enterprise.press\/stories\/2018\/06\/03\/afreximbank-plans-to-provide-as-much-as-usd-1-bn-in-funding-to-egypts-private-public-sectors-this-year\/\">USD 1 bn in funding to Egypt<\/a><\/u>this year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The EGPC received a USD 200 mn loan from the African Export-Import Bank (Afreximbank) on 31 July, which will be used to finance the expansion of state-owned MIDOR\u2019s refining facility, banking sources tell Al Shorouk. The loan has a five-year tenor, they added, and Abu Dhabi Islamic Bank (ADIB) acted as financial adviser for the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[7207],"tags":[93,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-625469","post","type-post","status-publish","format-standard","hentry","category-energy","tag-energy","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"2babfb30-17c7-4277-8c65-603393e56287","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","full_issue_title":"Afreximbank provides a USD 200 mn loan to finance state-owned MIDOR expansion plans","related_issue":[625447],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.78a087cf-a554-4617-9dab-d6419a5e6d40.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Afreximbank provides a USD 200 mn loan to finance state-owned MIDOR expansion plans - 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\/2018\/08\/06\/afreximbank-provides-a-usd-200-mn-loan-to-finance-state-owned-midor-expansion-plans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Afreximbank provides a USD 200 mn loan to finance state-owned MIDOR expansion plans\" \/>\n<meta property=\"og:description\" content=\"The EGPC received a USD 200 mn loan from the African Export-Import Bank (Afreximbank) on 31 July, which will be used to finance the expansion of state-owned MIDOR\u2019s refining facility, banking sources tell Al Shorouk. The loan has a five-year tenor, they added, and Abu Dhabi Islamic Bank (ADIB) acted as financial adviser for the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/06\/afreximbank-provides-a-usd-200-mn-loan-to-finance-state-owned-midor-expansion-plans\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-08-06T03:50:28+00:00\" \/>\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\/2018\/08\/06\/afreximbank-provides-a-usd-200-mn-loan-to-finance-state-owned-midor-expansion-plans\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/06\/afreximbank-provides-a-usd-200-mn-loan-to-finance-state-owned-midor-expansion-plans\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Afreximbank provides a USD 200 mn loan to finance state-owned MIDOR expansion plans\",\"datePublished\":\"2018-08-06T03:50:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/06\/afreximbank-provides-a-usd-200-mn-loan-to-finance-state-owned-midor-expansion-plans\/\"},\"wordCount\":154,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"energy\",\"EnterpriseAM\"],\"articleSection\":[\"Energy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/06\/afreximbank-provides-a-usd-200-mn-loan-to-finance-state-owned-midor-expansion-plans\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/06\/afreximbank-provides-a-usd-200-mn-loan-to-finance-state-owned-midor-expansion-plans\/\",\"name\":\"Afreximbank provides a USD 200 mn loan to finance state-owned MIDOR expansion plans - 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MIDOR had reached a\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","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":627719,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/10\/midor-signs-usd-1-7-bn-agreement-with-italys-technip-to-maximize-production\/","url_meta":{"origin":625469,"position":2},"title":"MIDOR signs USD 1.7 bn agreement with Italy\u2019s Technip to maximize production","author":"enterpriseam admin","date":"10 June 2018","format":false,"excerpt":"State-owned MIDOR refinery signed a USD 1.7 bn agreement with Italy\u2019s Technip as part of a USD 2.2 bn project to expand its refining capacity to 175k barrels of crude per day, from 115k barrels, the Oil Ministry announced on Thursday. ENPPI and Petrojet will also take part in the\u2026","rel":"","context":"In &quot;Energy&quot;","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":556048,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/new-infusions-of-usd-for-state-banking-system\/","url_meta":{"origin":625469,"position":3},"title":"New infusions of USD for state, banking system?","author":"enterpriseam admin","date":"10 October 2021","format":false,"excerpt":"The Madbouly government is looking to raise USD 2 bn through a three-year syndicated facility, according to a Finance Ministry statement on Friday. The loan will include ESG and Islamic finance components, with the ESG tranche set to target green projects under the Finance Ministry\u2019s green financing framework, Emirates NBD,\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":628005,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/20\/zaki-hashem-advised-on-usd-1-7-bn-agreement-between-midor-and-technip\/","url_meta":{"origin":625469,"position":4},"title":"Zaki Hashem advised on USD 1.7 bn agreement between MIDOR and Technip","author":"enterpriseam admin","date":"20 June 2018","format":false,"excerpt":"Zaki Hashem & Partners advised state-owned MIDOR on its USD 1.7 bn agreement with Italy\u2019s Technip as part of a USD 2.2 bn project to expand its refining capacity to 175k barrels of crude per day, sources tell us. The Oil Ministry secured a USD 1.2 bn loan from France\u2019s\u2026","rel":"","context":"In &quot;Law&quot;","block_context":{"text":"Law","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/law\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":623489,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/31\/midor-signs-usd-1-2-bn-loan-agreement-with-three-eu-banks\/","url_meta":{"origin":625469,"position":5},"title":"MIDOR signs USD 1.2 bn loan agreement with three EU banks","author":"enterpriseam admin","date":"31 October 2018","format":false,"excerpt":"State-owned company Middle East Oil Refinery (MIDOR) was meant to have signed yesterday the final contracts for a 10-year USD 1.2 bn syndicated loan from Cr\u00e9dit Agricole, BNP Paribas, and Italy\u2019s CDP, sources said. The loan, which should carry an interest rate of 6%, will be used to finance USD\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/625469","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=625469"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/625469\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/625447"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=625469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=625469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=625469"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=625469"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=625469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}