Arab Republic of Egypt

Banha Power Generating Station
Loan No: 554 Interest Rate: 3.0 %
Beneficiary: Middle Delta Electricity Production Company Grace Period: 6 years
Project Cost: KD 235.0 million Maturity: 25 years
Amount of Loan: KD 50.0 million Repayment: 39 semi-annual installments
Date of Board Approval: 2010-12-09 First Installment: 6 years following the first disbursement
Date of Loan Agreement: 2010-12-09 Date of Loan Effectiveness: -

Objectives:

The project aims at satisfying the increasing demand for electric power and energy in the Arab Republic of Egypt, and meeting the increase in load in the middle Delta region of the country, by constructing a 750 MW combined cycle power generating station, and connecting it to the national grid at 220 kV.

Description:

The project, which is expected to be completed by the second quarter of 2014, includes the supply and installation of two gas turbines and a steam turbine, two heat recovery steam generators, three medium voltage generators, three power transformers, a condenser, a 220 kV switchyard, the execution of all necessary civil, mechanical and electrical works, along with the provision of necessary consulting services and insurance. The main project components can be summarized as follows:

  1. Two Gas Turbines: This includes the supply and installation of two gas turbines, each rated at 250 MW, using natural gas as their primary fuel, along with the supply and installation of two medium voltage electrical generators, each rated at 300 MVA.
  2. Two Heat Recovery Steam Generators (HRSG): This includes the supply and installation of two triple-pressure non-reheat HRSGs, along with their accessories.
  3. Steam Turbine: This includes the supply and installation of a 250 MW triple-pressure steam turbine, driven by the steam generated from the exhaust of the two gas turbines, a condenser and a crane, along with the supply and installation of a 300 MVA medium voltage electrical generator.
  4. Mechanical Works: This includes the execution of all necessary mechanical works.
  5. Electrical Works: This includes the supply and installation of three main 220 kV transformers, each rated at 340 MVA, two 32 MVA auxiliary transformers to feed the station loads, three generator main circuit breakers, medium and low-voltage breakers, busbars and cables, along with the necessary protection, communications and control equipment.
  6. Switchyard: This includes the supply and installation of an indoor GIS switchyard, in order to connect the three generating units included in the project to the national grid at 220 kV.
  7. Civil Works: This includes constructing buildings and pouring concrete foundations for the equipment included in the project, along with constructing an internal road network for the station.
  8. Environmental Monitoring Equipment: This includes all instruments and equipment necessary for monitoring the environmental conditions at the project site.
  9. Consulting Services and Insurance:This includes providing necessary technical and consulting services, along with covering the insurance costs for the equipment included in the project during the installation and warranty periods.

Financing:

The Arab Fund’s loan covers about 21.2% of the total project cost. The Kuwait Fund for Arab Economic Development will provide a loan of KD 29.0 million. The Islamic Development Bank, the Saudi Fund for Development, the Abu Dhabi Fund for Development, and the OPEC Fund for International Development will provide loans equivalent to about KD 37.7 million, KD 14.5 million, KD 14.5 million, and KD 11.6 million, respectively. The Egyptian Government will finance the remaining cost of the project and any additional cost that may arise.