14 January 2013

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.

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