Cairo - Mubasher: Egypt's Ministry of Electricity and Renewable Energy announced that it signed $10 billion long -term syndicated loan agreement.
The ministry singed the credit facility contract with National Bank of Egypt, which joined the syndicate as mandated lead arranger and book runner.
The loan proceeds will be used to finance a power project to be established by Siemens in Egypt.
Earlier, Siemens signed an agreement with the Egyptian government to build three combined-cycle gas-fired power stations.
