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Gov't explores Egypt Aluminum's expansion plans with int'l financial institutions

Gov't explores Egypt Aluminum's expansion plans with int'l financial institutions
Egypt Aluminum's planned upgrade has an estimated cost of EGP 13 billion
Egypt Aluminum
EGAL
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Cairo – Mubasher: The Egyptian Ministry of International Cooperation and Ministry of Public Business Sector explored cooperation opportunities with a number of international financial institutions.

The public business sector minister Hesham Tawfik discussed with several financial institutions the possibility of financing a number of projects, including the upgrade of manufacturing cells at Egypt Aluminum at a capacity of 250,000 tonnes per year with an estimated cost of EGP 13 billion, according to a statement on Monday.

A tender has been launched to select a consulting office to conduct the feasibility study of the project. The bidding deadline is on 15 July.

Representatives from the World Bank, African Development Bank (AfDB), International Finance Corporation (IFC), European Bank for Reconstruction and Development (EBRD), and European Investment Bank have participated in the video-conference.