Loans to Expand West Damietta Power PlantSource: www.export-egypt.com 12/23/2014, Location: Africa |
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President Abdel Fattah Al-Sisi issued a decree on Monday 22/12/2014 to approve a loan agreement for increasing the capacity of West Damietta power plant to produce 750 megawatts.
The loan, worth SR 150 million ($40 million), was concluded between Egypt's government and the Saudi Fund for Development (SFD) in November. The project aims to meet the growing demand for electric power through increasing the production capacity of the power plant by 250 megawatts to reach 750 megawatts. At the same time, Sisi approved a $60 million loan agreement the SFD. The loan is to upgrade a power plant in Ismailia by increasing its generation capacity to 1,500 megawatts from the current 1,000 megawatts. |
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