The European Bank for Reconstruction & Development has provided an Egyptian petrochemicals producer Carbon Holdings a $ 11 million loan to help this company reduce N2O emissions. In addition, the company will work on upgrading its approach to energy efficiency management and reducing N2O emissions to below European Union Best Available Techniques levels at EHC. On the basis of improved environmental performance, the company will also acquire a majority stake in EHC. Carbon Holdings is a developer, acquirer and operator of midstream and downstream petrochemicals companies in the Ain Sokhna industrial zone in the Northwest Gulf of Suez in Egypt. The EBRD investment is in line with the Bank’s new transition qualities, introduced at the beginning of 2017.

Source: The North Africa Journal May 11, 2017 15:45 UTC