EGYPT/SAUDI ARABIA

Egypt Secures Saudi Power Loans

Egypt has secured three agreements worth a total $350mn from the Saudi Fund for Development. These will provide $100mn to help upgrade two gas-fired power plants for more efficient combined-cycle operation and $250mn for the purchase of oil products from Saudi Arabia.

Egyptian Electricity Holding Company (EEHC) plans to add heat recovery steam generators to gas turbines currently operating in open cycle mode at the 500MW Damietta West and...