Arab, foreign financial institutions to fund new power station in Egypt
A number of Arab and international financial institutions agreed on allocating $ 225 million for establishing Talkha generating station. The local component of the project is estimated at L.E. 120 million.
The new station comes in line with Egypt's urgent plan aimed at adding 4500 megawatts to the National Power Grid via establishing four stations by the year 2007.
According to Mohamed Awad, Chairman of the Electricity Holding Company, the European Investment Bank agreed on providing $ 25 million, the Arab Fund for Economic Development $ 100 million and the Kuwaiti Fund for Development $ 100 million for that project. (menareport.com)
© 2004 Mena Report (www.menareport.com)