Arab Republic of Egypt

Assiut Power Generating Station (El-Walidia) 650 MW
Loan No: 604 Interest Rate: 3.0 %
Beneficiary: Upper Egypt Electricity Production Company Grace Period: 6 years
Project Cost: KD 192.6 million Maturity: 25 years
Amount of Loan: KD 55.0 million Repayment: 39 semi-annual installments
Date of Board Approval: 2014-03-24 First Installment: 6 years following the first disbursement
Date of Loan Agreement: 2014-03-24 Date of Loan Effectiveness: 2014-08-28

Objectives:

The project aims at satisfying the increasing demand for electric power and energy, by raising the installed power generation capacity of the Egyptian network by 650 MW. This will be accomplished by constructing a steam power generating station in the city of Assiut that runs on heavy fuel oil as the primary fuel.

Description:

The project, which is expected to be completed in the last quarter of 2018, comprises a 650 MW sub-critical steam generating unit consisting of a boiler, a turbine, a power generator, a condenser, and accessories. The project consists of the following main components:

  1. Boiler and Accessories: This includes the design, supply and installation of a boiler and its accessories, in addition to the commissioning and supply of burner management systems, and other necessary works.
  2. Steam Turbine, Power Generator, Condenser and Accessories: This includes the design, manufacture, supply and installation of a steam turbine, a power generator, a condenser and accessories.
  3. Pumps and Accessories: This includes the design, manufacture, and supply of main pumps, start-up pumps, condensate pumps and other pumps, in addition to the installation supervision, and commissioning.
  4. Feed Water Heaters: This includes the design, manufacture, supply and installation of feed water heaters, and installation supervision and commissioning.
  5. Water Treatment and Environmental Pollution Monitoring: This includes the supply and installation of water treatment systems and environmental pollution monitoring equipment.
  6. Transformers and Circuit Breakers: This includes the design and supply of the main 850 MVA power transformer, the interconnection transformer 500/220 kV and auxiliary transformers. This also includes the supply and installation of the switchyard.
  7. Critical Pipes and Values: This includes the manufacture and supply of critical pipes, valves, heat sensors, thermocouples, flow meters and accessories, and the installation supervision and commissioning.
  8. Mechanical and Electrical Works: This includes the supply and installation of fire fighting systems, air compressors and other mechanical equipment, and critical pipes. The electrical works include the supply and installation of battery systems and distribution boards, in addition to the installation of transformers, medium voltage breakers, DCS and other electrical equipment.
  1. Measurement and Control Systems: This includes the supply of measurement and control systems and accessories, and the installation supervision and commissioning.
  2. Civil Works and Tanks Yard: This includes civil works, and construction of roads, buildings and tanks.
  3. Consultancy Services and Insurance: This includes technical and consultancy services required for the project design and environmental impact study, preparation of tender documents, and other technical, advisory and supervisory services, in addition to project insurance.

Financing:

The Arab Fund’s loan covers about 29% of the total project cost. It is expected that the Saudi Fund for Development will contribute to the financing of the project with a loan equivalent to about KD 8.5 million (about 4%), the Kuwait Fund for Arab Economic Development with a loan of about KD 30 million (about 16%), the OPEC Fund for International Development with a loan equivalent to about KD 15.5 million (about 8%) and the Islamic Development Bank with a loan equivalent to about KD 62.8 million (about 32%). The beneficiary and the Egyptian Government will cover the remaining cost of the project and any additional cost that may arise.