Wednesday, Nov 02, 2011
CAIRO (Zawya Dow Jones)--Egypt Kuwait Holding Co.'s natural gas subsidiary, Fayoum Gas Co., and the Industrial Development and Workers Bank of Egypt, or IDWBE, have signed an agreement to provide 150 million Egyptian pounds ($25 million) to fund gas projects in the country, Egyptian newspaper Al Shorouk reports.
The agreement will fund 22 natural gas factories, the report said without providing any further details.
Fayum Gas is a local distribution company established in 2000 by Shell Gas. In 2007, Egypt Kuwait Holding took majority ownership of the company increasing its stake to 78%.
Newspaper website: http://www.shorouknews.com
-By Farah Halime; Contributing to Dow Jones Newswires; Fhalime@gmail.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
02-11-11 0831GMT
