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IDB gives Egypt $385m loan for Helwan power station

: Sunday, June 29 - 2014 @ 01:57

Egypt has approved an EGP2.75bn ($385m) loan from the Islamic Development Bank (IDB) to help finance construction of a power station, Ahram has reported. The IDB loan is for a plant in Helwan, south of Cairo, expected to generate 1,950 MW, the ministry of electricity said. The total cost of the station is estimated at EGP12.5bn, with additional funding coming from other regional and international funds, the ministry said. It is expected to come on line in stages during 2017 and 2018, it added.

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Sunday, June 29- 2014 @ 1:57 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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