Middle East Economic Survey
VOL. LII
No 12
23-Mar-2009
EGYPT
Egypt Signs $1.05Bn Loan Agreements For Power Plant
The Egyptian Minister of Electricity and Energy Hasan Yunis on 15 March signed two soft loan agreements worth $1.05bn to finance the construction of a 1.3gw power plant at 'Ain Sukhna in the Gulf of Suez. The first loan with the World Bank is for $600mn, while the second one with the African Development Bank (ADB) is for $450mn. The cost of the power project is estimated at around $2bn...
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