{"id":108456,"date":"2025-02-23T23:15:16","date_gmt":"2025-02-23T21:15:16","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=108456"},"modified":"2025-02-24T07:15:53","modified_gmt":"2025-02-24T05:15:53","slug":"ebrd-eu-earmark-e25-m-to-back-decarbonization-of-acc-in-egypt","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/ebrd-eu-earmark-e25-m-to-back-decarbonization-of-acc-in-egypt\/","title":{"rendered":"EBRD, EU earmark \u20ac25 m to back decarbonization of ACC in Egypt"},"content":{"rendered":"

The European Bank for Reconstruction and Development (EBRD<\/a>) and the\u00a0European Union (EU)<\/a>\u00a0decided to allocate\u00a0\u20ac25 million to\u00a0Arabian Cement Company (ACC)<\/a>, a leading cement producer in Egypt, with an aim to help reduce carbon-intensive production processes and support ACC\u2019s decarbonization initiatives.<\/p>\n

The financing package is meant to promote environmentally responsible industrial practices. The resulting reductions in CO2 emissions are expected to total 130,000 tons a year.<\/p>\n

Specifically, this funding will finance the expansion of ACC\u2019s alternative fuel injection capacity, as well as supporting automation and the development of other industrial facilities, in order to improve the company\u2019s efficiency and product mix. One such project will involve the acquisition and installation of a new energy-efficient hydrogen injection system \u2013 a first for Egypt\u2019s cement sector. This innovative new system will allow substantial reductions in CO2 emissions by acting as a catalyst and improving combustion efficiency, as well as reducing the consumption of fossil fuels.<\/p>\n

The financing agreement was signed by the EBRD\u2019s Chief Operating Officer for Client Services and Managing Director of Industry, Commerce and Agribusiness, Jean-Marc Peterschmitt, and the CEO of ACC, Sergio Alcantarilla, in the presence of the EBRD\u2019s Managing Director for the Southern and Eastern Mediterranean, Mark Davis.<\/p>\n

Mark Davis said \u201cWe are delighted to be signing this agreement, which showcases our continued support for the decarbonization of the Egyptian cement industry. We are particularly proud of our continued relationship with and support for ACC, financing their promising low-carbon pathway \u2013 including the first low-carbon hydrogen injection system in Egypt\u2019s cement industry. With the support of our EU partners, this investment will not only assist ACC in adopting innovative technology, but also promote environmentally responsible industrial practices and complement the country\u2019s decarbonisation efforts, contributing to a greener economy.\u201d<\/p>\n

Sergio Alcantarilla said: \u201cThis agreement with the EBRD is a key milestone in ACC\u2019s sustainability journey, supporting our transition to cleaner technologies. The integration of hydrogen injection technology at our Ain Sokhna plant will enhance operational efficiency and significantly reduce our carbon footprint. By adopting innovative solutions, we are reinforcing our commitment to responsible cement production and strengthening our position as a leader in Egypt\u2019s green industrial transformation.\u201d<\/p>\n

EFSD+ was established in June 2021 and offers EU partner countries assistance with key investment through grants or financial guarantees. In this way, the EU mobilises additional financial resources for sustainable development from the public and private sectors. EFSD+ has a total global guarantee capacity of \u20ac39.8 billion for the period from 2021 to 2027, of which \u20ac22.5 billion will be used in the EU\u2019s enlargement and neighbourhood regions.<\/p>\n

ACC is a leading cement producer in Egypt. Its factory is located in Suez Governorate and produces 5 million tonnes of high-quality cement annually, accounting for approximately 8 percent of Egypt\u2019s total production. Its certifications include ISO 9001 for quality assurance, ISO 14001 for environmental compliance, OSHAS 18001 for health and safety measures, and ISO 50001 for energy management. The company has been listed on Egypt\u2019s EGX stock exchange since May 2014.<\/p>\n

Egypt is a founding member of the EBRD. The Bank has invested more than \u20ac13.8 billion in the country through 198 projects since it began investing there in 2012. The Bank has also provided technical assistance to more than 750 small and medium-sized enterprises in Egypt.<\/p>\n","protected":false},"excerpt":{"rendered":"

The European Bank for Reconstruction and Development (EBRD) and the\u00a0European Union (EU)\u00a0decided to allocate\u00a0\u20ac25 million to\u00a0Arabian Cement Company (ACC), a leading cement producer in Egypt, with an aim to help reduce carbon-intensive production processes and support ACC\u2019s decarbonization initiatives. The financing package is meant to promote environmentally responsible industrial practices. The resulting reductions in CO2 […]<\/p>\n","protected":false},"author":410,"featured_media":108457,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[984,13332],"tags":[6971,6087,6461,8451,6463,8050],"yoast_head":"\nEBRD, EU earmark \u20ac25 m to back decarbonization of ACC in Egypt - Csr Egypt<\/title>\n<meta name=\"description\" content=\"(EBRD) and the\u00a0(EU)\u00a0decided to allocate\u00a0\u20ac25 million to\u00a0Arabian Cement Company (ACC), a leading cement producer in Egypt, with an aim to help reduce carbon-intensive production processes and support ACC\u2019s decarbonization initiatives\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/csregypt.com\/en\/ebrd-eu-earmark-e25-m-to-back-decarbonization-of-acc-in-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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