Egypt’s government endorsed on Tuesday a $200 million loan agreement signed with the Arab Fund for Economic and Social Development (AFESD) to go for Walidia Thermal Power Plant project in Asyut.
In March, Egypt signed a loan agreement worth KFD 55 million (US$200 million) to finance Walidia project.
This comes in light of the government’s willingness to bolster the power capacity in Egypt, the cabinet noted.
Walidia Thermal Power Plant is located at Walidiya on the Nile, Asyut Governorate, with a design capacity of 624 MWe. It is operated by Upper Egypt Electricity Production Company (UEEPC).