ERC wins Deal of the Year Award, 2012

In the main hall at London’s National History Museum, Infrastructure Journal (IJ) brought together industry leaders in global infrastructure in 2012 where the Egyptian Refining Company’s (ERC) Mostorod Refinery project received IJ’s Deal of the Year Award, 2012.

Other worthy finalists for overall deal of the year were the Eurasia Tunnel PPP in Turkey, the Intercity Express Programme in the UK and Wiri Prison PPP in New Zealand.

The ERC project is the largest ever project finance transaction in North Africa with the US$3.7bn total capitalisation cost. It is a public-private partnership with the private sector investing together with the government to address a critical national requirement for infrastructure.

Gary Neville, Chief Investment Officer and a member of the ERC Board stated: “I am delighted that this landmark project has been recognised with the IJ Award. It is testament to the long term commitment of the sponsors, equity investors and lenders to have successfully mobilised the project in a time of transition in the country.”