AfDB mulls $130mn finance for Egyptian power plant project

The African Development Bank Group (AfDB) considers securing a US$130-million financing to a power plant in Egypt, senior sources from the bank told Amwal Al Ghad Tuesday.

The power plant is located in Damanhur, 160 km (99.4 miles) northwest of Cairo, the source added.

AfDB will decide on financing the Egyptian power plant during its coming meeting scheduled for mid-November this year, the official said, referring to the bank’s interest in funding the developmental projects in Egypt.

From his part, Mohamed Darwish – Chairman of West Delta Electricity Production Company – told Amwal Al Ghad in earlier statement that the Damanhour power plant project is set to work upon the combined cycle system with capacity of 1,800 megawatts.