Egyptian Banks to Finance New Siemens Power Plants with LE10 blnSource: www.export-egypt.com 12/20/2015, Location: Africa |
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The Egyptian Electricity Holding Company will sign a LE10 billion ($1.2 billion) loan contract with a group of banks to partially finance the country’s three new power plants with a combined capacity of 14,400 megawatts, the electricity ministry said.
The ministry and the state's largest lender, the National Bank of Egypt, will sign the contract on behalf of the aforementioned parties, according to a ministry emailed statement. The new power stations, located in Beni Suef governorate south of Cairo, north of Borolos Lake in Kafr El Sheikh governorate, and in Egypt’s new administrative capital, will be constructed by German industrial giant Siemens and its Egyptian partners, Orascom Construction and El-Sewedy Electric. |
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