LE 4 Billion to Finance 5-Year Power Project Plan

The Ministry of Electricity has inked three agreements worth four billion pounds to finance projects to be implemented as part of a five-year plan (2012/2017). One such agreement was signed with the Saudi Fund for Development to contribute to the Banha power generation station project, Minister Hassan Younis said on 28/3/2012. Another deal was sealed with the African Development Bank to contribute to the Suez power generation project, Younis added. A third loan from the European Investment Bank will go to financing a northern Giza electricity project, the minister said. All three projects are part of efforts to meet the growing electricity needs in Egypt.