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.