VOL. XXXII
NO.34
29-MAY-1989
EGYPT
Soviet Loan for Sinai Power Plant
Egypt and the Soviet Union signed on 15 May a 120mn loan agreement for theconstruction at 'Uyun Musa in the Sinai Peninsula of a 600 MW gas or coal-firedpower plant. Construction work is expected to start in September. The loan isrepayable over 12 years at 3.5% interest with a 5.5-year period of grace. Theloan agreement reflects renewed growth in economic relations between the twocountries and follows reports of Soviet offers to...
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