European Bank for Reconstruction and Development
Wedoany.com Report-Feb 21, The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are expanding support for energy efficiency in Egypt’s manufacturing sector with a 25 million euro financing package for Arabian Cement Company (ACC).
The funding, backed by the EU’s European Fund for Sustainable Development Plus (EFSD+), aims to accelerate ACC’s decarbonization efforts and reduce carbon emissions by 130,000 tons annually.
The investment will enhance ACC’s alternative fuel capabilities, automation, and industrial efficiency. Notably, it will fund Egypt’s first hydrogen injection system in the cement sector, designed to cut fossil fuel consumption and improve combustion efficiency.
"This agreement highlights our commitment to supporting Egypt’s transition to a low-carbon economy," said Mark Davis, EBRD Managing Director for the Southern and Eastern Mediterranean.
ACC CEO Sergio Alcantarilla emphasized the company’s focus on sustainability, stating that the new technology at its Ain Sokhna plant will enhance efficiency and significantly lower its carbon footprint.
Egypt, a founding member of the EBRD, has received over 13.8 billion euros in investments across 198 projects since 2012.
