SEC Signs Agreement to Finance Saudi – Egypt Electricity Interconnection Project at $567.5 mln

Saudi Electricity Company (SEC) has signed a facility agreement with Standard Chartered Bank and Sumitomo Mitsui Banking Corporation which specifies that such facility, subject to satisfaction of conditions precedent, will be guaranteed by the Swedish Export Credit Agency (EKN) and funded by Swedish Export Credit Corporation (SEK).

The company said that the financing amount is US$567,508,037. The financing duration is 14 years. The facility will partially finance the Saudi – Egypt electricity Interconnection project.