$130m Egyptian power project green-lit
650MW plant to ease pressure on existing facilities
Egyptian authorities have signed a deal worth $130m to provide gas turbines for a Banha City-based power project.
Financed by Arab and Islamic funds, the project’s total estimated cost would be around $7.4bn and forms part of the country’s 2011-2017 five-year plan, adding 750 megawatts of power to the grid via two gas turbines and a steam unit.
Egypt’s Minister for Power and Electricity, Hassan Younis, said that the local component of the project will be financed by Middle Delta Electricity Production, and is expected to be launched in simple cycle in 2013. The combined cycle is planned for launch a year later in June 2014, and will allow the loads on other power stations in the country to be eased.