Egypt Signs Turbine Deal with Japanese Firm

Egypt Signs Turbine Deal with Japanese Firm

Egypt signed a deal with Japanese Mitsubishi Hitachi Power Systems to develop two gas turbines for the North Cairo Power Station, reports Amwal Al Ghad.

 

The contract is worth $109.1 million. Financing for the deal was secured through Japan’s Official Development Assistance (ODA). The loan, which has a 10-year grace period, will be repaid over 40 years.

 

The project is to assist the Egyptian government boost Egypt’s energy efficiency and decrease greenhouse-gas emissions.

 

The Egyptian Electricity Holding Company (EEHC) has also secured a $243 million loan from JICA to finance automated control centers for electricity distribution companies in Alexandria, North Delta, and North Cairo, reports Daily News Egypt.

Sarah Samir 2899 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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