Egypt: IDB Lends Egypt U.S.$ 250 Million for South Helwan Power Plant

Prime Minister Hisham Qandil and Minister of Electricity and Energy Ahmed Imam will witness on Monday the inking of an agreement with the Islamic Development Bank (IDB) giving Egypt the second installment of a $450 mn loan.

The money will go to establishing a power plant south Helwan with a 1,950 megawatts output capacity.

The power plant will operate three gas-run steam turbines and will by connected to the national power grid to meet the rising demand for electricity, it is estimated to enter service in 2016, Imam said.

Ads by Google

Copyright © 2013 Egypt State Information Service. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.