Egyptian Refining Co is in talks with several export credit agencies and international financial institutions to obtain loans and facilities worth $2.35bn for a refinery project in the Cairo area, according to private equity firm Citadel Capital, Reuters has reported. Citadel had a stake of more than 8% in the company. Output from the refinery will be sold to Egyptian General Petroleum Corp for 25 years at prices matching those in the market, the reported added.