| Loan No: | 11/P | Interest Rate: | -2 % |
| Amount of Loan: | KD 4.8 million | ||
| Date of Board Approval: | - | First Installment: | - |
| Date of Loan Agreement: | 2023-12-23 | Date of Loan Effectiveness: | - |
Objectives:
The project aims at satisfying the increasing demand for electric power and energy in the Egyptian unified power network. This will be accomplished through increasing the installed power generation capacity in the West Delta area by 1300 MW, by expanding the existing Abu Qir power generating station by adding two steam power generating units which run on natural gas as the primary fuel.
Description:
The project consists of two steam generating units, each rated at 650 MW. The new station expansion will be connected to the unified power network through double-circuit 500 kV power overhead lines through the Kafr El Zayat substation to the Basous substation in the Greater Cairo area. This project represents the second expansion of Abu Qir power generating station
The project, which is expected to be completed in the second half of 2011, includes the following main components:
Financing:
The Arab Fund’s loan covers about 8.1% of the total project cost. Due to an increase in the project cost, a second loan for the same amount was allocated by the Arab Fund. The Kuwait Fund for Arab Economic Development will provide a KD 30.0 million loan. The African Development Bank and the Islamic Development Bank will provide loans equivalent to KD 95.9 million and KD 47.0 million, respectively. The Egyptian Government will cover the remaining cost of the project and any additional cost that may arise.