financing will allow the companys refinery at
Mostorod to be redeveloped
Egyptian Refining Company's (Takrir) $3.5 billion financing
has overcome completion risk and credit support fears, in what
is Africa's largest project financing.
The financing for the redevelopment of the company's
refinery at Mostorod, near Cairo, involved two key
Firstly, the main revenue stream was an off-take arrangement
with Egyptian General Petroleum Company (EGPC), one of the
Takrir's major shareholders.
"We were basically looking at the creditworthiness of