EIB to Advance 100-Million Euro Loan for Phase 2 of the Arab Gasline

摘要

The European Investment Bank (EIB) has agreed to advance a loan of 100 million euros to the Egyptian Natural Gas Holding Company (EGAS) to part-finance phase 2 of the Arab Gasline.This phase will entail the construction of a 393-km gasline running from Aqaba,in the south of Jordan,to Rehab,in the north,for the purpose of transporting Egyptian natural gas to power stations,industrial plants and other users along its route.This phase,which is expected to cost some US264 million,is being built by the Egyptian EPEG consortium,which comprises EGAS,the Egyptian Natural Gas Company (Gasco),and Petrojet and Enppi,which are both subsidiaries of the Egyptian General Petroleum Corporation (EGPC).The work is scheduled for completion in 2006 (AOG,16 Jan.,2004).The Aqaba-Rehab gasline will be operated by Egyptian-Jordanian Fajr Company.