VOL. XLII

No. 19

10-May-1999

EGYPT

France Increases Investments In Egypt And Signs $760Mn PowerContract

French firm Electricite de France (EDF) signed a $760mn20-year contract on 1 May with the state-run Egyptian Electricity Authority forthe construction of two thermal power stations. The project will be 30%self-financed, with the remainder to be raised through debt. The 650-megawattpower stations will be constructed on either side of the Suez Canal and willrun on natural gas. The contracts were...