Afreximbank approves $200m facility for Nigeria’s Shoreline Power

Afreximbank approves $200m facility for Nigeria’s Shoreline Power

By UdemeAkpan, Energy Editor The African Export-import Bank (Afreximbank) has approved a $200 million financing facility for Nigeria’s Shoreline Power Company Limited to support the execution of a major oil and gas infrastructure project in Algeria, marking a significant boost for Nigerian engineering expertise and cross-border investment in Africa. The financing, approved in June 2026, […] The post Afreximbank approves $200m facility for Nigeri…

Kola Karim's Shoreline lands $200M Afreximbank facility

Afreximbank has approved a $200 million facility for Shoreline Power Company, part of the Nigerian group chaired by Kola Karim, to fund work on one of Algeria's largest upstream oil contracts.The dual-tranche global revolving facility, approved in June and announced from Cairo on Monday, was extended to Shoreline and its co-borrowers, including Arkad SpA, an Italian engineering, procurement and construction contractor majority-owned by the Shore…

Afreximbank Approves $200 Million for Algeria Oilfield Development

The African Export-Import Bank has approved a $200 million financing facility supporting Shoreline Power Company Limited and Arkad SpA’s participation in a major Algerian energy project. According to World Oil, the financing relates to the Hassi Bir Rekaiz Phase 2a field development, described as one of Algeria’s largest upstream infrastructure developments. Supporting a $980 Million Contract The facility will support Arkad’s 44% share of a $980…

Afreximbank Backs Nigerian-Owned Shoreline With $200 Million For Algeria Oil Project

African Export-Import Bank (Afreximbank) has approved a $200 million financing facility for Shoreline Power Company Limited and its partners to support the execution of a major oil and gas infrastructure project in Algeria. The financing will enable Arkad SpA, an Italian engineering and construction company majority-owned by Nigeria’s Shoreline Group, to fulfil its portion of […] The post Afreximbank Backs Nigerian-Owned Shoreline With $200 Mill…

Afreximbank approves financing for $980 million Algeria oilfield development

Afreximbank has approved a $200 million financing facility to support Shoreline Power Company and Arkad SpA's participation in the $980 million Hassi Bir Rekaiz Phase 2a field development project in Algeria, which is expected to increase production to as much as 60,000 bopd.

Afreximbank Backs Shoreline with $200m Oil Project Funding

The African Export-Import Bank (Afreximbank) has approved a $200 million financing facility for Shoreline Power Company Limited to support a major oil and gas project in Algeria. The funding strengthens African engineering capabilities while promoting cross-border investment and infrastructure development across the continent. The Afreximbank financing will allow Shoreline Group, through its majority-owned Italian engineering subsidiary, Arkad S…