Middle East Economic Survey
KFAED To Loan Egypt $100Mn For 'Ain Sukhna Power Plant
The Kuwait Fund for Arab Economic Development (KFAED) has agreed to loan Egypt $100mn to part finance the construction of a 1.3gw power plant, Egyptian Minister of Electricity and Energy Hasan Yunis said last week. The plant, estimated to cost E9.5bn ($1.74bn), will be built near the Red Sea coastal town of 'Ain Sukhna, and will comprise two 650mw steam turbine units. The first is...