IDB Allocates EGP1.4 billion for Egypt’s West Damietta Power Plant

The Islamic Development Bank (IDB) contributes with EGP 1.4 billion to finance the upgrade project of West Damietta Power Plant in Egypt, the country’s Electricity Minister announced on Sunday.

Egyptian Minister of Energy and Electricity Eng. Ahmed Emam stated that the power plant operations will be converted to function with a combined-cycle system so as to increase its energy production capacity.

The upgrades come within the framework of the ministry’s efforts to implement its energy expansion plan, which aims at increasing the capabilities of electricity production in local power plants, while refraining from reliance on the use of additional fuels, he added.

The West Damietta Plant comprises four gas units, also with a capacity of 125 megawatts each, and steam units with a total capacity of 250 megawatts.

Moreover, the minister has referred that the investment cost for converting West Damietta Power Plant will total approximately EGP 2.140 billion. Besides the IDB, the European Bank for Reconstruction and Development (EBRD), the Saudi Fund for development (SFD), and East Delta Electricity Production Company all contributed to financing the project.

The project is expected to come into effect by August 2016.