Middle East Economic Survey

VOL. LIII

No 35

30-Aug-2010

EGYPT

EIB Lends Egypt $300Mn For North Giza Power Plant

The European Investment Bank (EIB) will extend a 300mn loan to Egypt to help fund the development of a major new power station on the outskirts of Cairo. State news agency MENA said that the North Giza Power Plant would cost E120bn ($21bn) and would start operations in 2014. The 1.5gw combined cycle gas turbine (CCGT) plant will use natural gas as a main fuel and light diesel oil as a...