Egypt: World Bank Supports Ain Sokhna Power Project

Jan 30 - 2009

The World Bank's Board of Executive Directors today approved a loan in the amount of $ 600 million to support the Ain Sokhna Power Project.

The project will support the Government of Egypt's expansion plan to meet the energy demand and ensure access to reliable and affordable electricity services - all prerequisites for sustained economic growth and achieving the country's social development agenda.

The project will finance a 1,300 MW supercritical steam turbine power plant comprising two 650 MW steam turbine generators. The plant will be under the management of the East Delta Production Company (EDPC), one of EEHC's subsidiaries.

In Egypt, electrical energy consumption and peak demand have been growing rapidly over the past ten years at rates of 8.6 % and 8.1% respectively. With investment in new generation capacity of around 1,300 MW per year, the Ain Sokhna Power Project will make a substantial contribution to meet the strong growth in demand.

The project is co-financed by the African Development Bank and Arab Fund for Economic and Social Development.

Published by: Energy Central