Arab Finance: The European Bank for Reconstruction and Development has approved the provision of a 25 million euros -euro financing package to the Arab Cement Company, with the aim of supporting the green transformation in its industrial operations, according to Statement Issued by the bank.
This package will support the first loss risk of the European Fund for Sustainable Development Plus.
The money of the Arab Cement Company is expected to help reduce carbon dioxide emissions by 130 thousand tons annually by reducing the carbon carbon production.
This package will also finance the operations of expanding the ability of the company's alternative fuel injection, improving automation, and developing industrial facilities.
Funding will cover the installation of the hydrogen injection system in the company's alternative fuel injection facility – the first of its kind in the cement sector in Egypt – to enhance combustion efficiency and reduce dependence on fossil fuels.
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