Thursday 19, July 2018 by Kudakwashe

EBRD loans Morocco’s SDX Energy $10 million

 

The loan will be channelled towards the development gas supply network.

  

The European Bank for Reconstruction and Development (EBRD) has signed a deal with SDX Energy to develop gas network to connect more industrial customers, reported Reuters.

The energy firm has been selling six million standard cubic feet (MMSCF) a day of gas is considering to increase distribution range from eight to 10 MMSCF a day by the end 2018, then eventually increase output to 24 MMSCF.

The firm generated revenue of $12.4 million in 2017.

Mark Reid, SDX Energy’s CFO, said that the loan will help fund the company's infrastructure connectivity to deliver affordable gas to more industrial customers.

  

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