Kuwait Loan Cash for Egypt Power Plant

29 March 2010 (Last Updated March 29th, 2010 18:30)

Egypt has received a $170m loan from the Kuwait Fund for Arab Economic Development to build a 750MW power plant, Cairo. Egypt, which has an existing generation capacity of 25GW, plans to add 9,200MW more by 2012 and invest $100-120bn to triple capacity by 2027, according to Reuters.

Egypt has received a $170m loan from the Kuwait Fund for Arab Economic Development to build a 750MW power plant, Cairo.

Egypt, which has an existing generation capacity of 25GW, plans to add 9,200MW more by 2012 and invest $100-120bn to triple capacity by 2027, according to Reuters.

Electricity and Energy Ministry official Aktham Abul Ela was quoted by Reuters as saying that the plant is scheduled to become operational in August 2012.

The country has recently received a $100m Kuwait Fund loan for another power plant, east of Cairo.