| Project Detail |
A loan agreement for KD 55 million was signed in Cairo on the 24th of March 2014 to help finance the Assiut 650MW Power Generating Station (Al-Walidiah) in the Arab Republic of Egypt. The loan agreement was signed by H.E. Dr. Ziad Bahaa Eddin, Deputy Prime Minister and Minister of International Cooperation, on behalf of the Government of the Arab Republic of Egypt. H.E. Mr. Abdlatif Yousef Al Hamad, Director General/Chairman of the Board of Directors of the Arab Fund, signed on behalf of the Fund. The project aims at contributing to meeting the growing demand for electrical power and energy in the Arab Republic of Egypt by increasing the generation capacity by about 650 MW, through the construction of a steam generating plant, running on heavy fuel oil, in the city of Assiut. The project includes the following key elements: 1- Boiler And Accessories 2- Steam Turbine, Generator, Condenser and Accessories 3- Pumps and Accessories 4- Feed Water Heaters 5- Water Treatment and Environmental Pollution Control 6- Electrical Transformers and Switches. 7- Critical Piping and Valves 8- Mechanical and Electrical Works 9- Measurement and Control Systems 10- Civil Works and Tank Yards 11- Consultancy Services And Insurance The loan will carry interest at 3% per annum and will be repayable over 25 years with a 6 year grace period. Upper Egypt Electricity Production Company will be the beneficiary of the loan, and will be responsible for implementing the project, which is expected to be completed in the fourth quarter of 2018. With the signing of this loan, the Arab Fund''s total contribution to financing projects in the Arab Republic of Egypt now amounts to KD 1,167.15 million. |
