EBR: EBRD Funds $1.3bn Combined Cycle Gas-Fired Power Project in Egypt

The European Bank for Reconstruction and Development (EBRD) has granted $200m financing to the state-owned Egyptian Electricity (EEHC) and its subsidiary West Delta Electricity Production (WDEPC) to fund the construction of a new 1.8GW combined cycle gas-fired power plant in the in Damanhour, north west of Cairo.

The $1.3bn power project is designed to ease energy shortages by increasing both efficiency and generating capacity in the country.

The project is also being co-financed by the European Investment Bank, the Arab Fund for Economic & Social Development and the African Development Bank.

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