The Egyptian Government received a $600m loan from the European Investment Bank on December 6th, to build a new power plant in the Beheira governorate, Ahram Online reports. The new plant will add 1800MW of electricity to the national power grid.
The loan is a part of a larger $1.3b package for power plants in Beheira’s Damanhour – loans supported by a number of investors including the Arab Fund for Economic and Social Development, and the African Development Bank.
Damanhour Electricity Company, part of the Egyptian Electricity Holding Company, will carry $240m of the project’s costs.
