Release date: 3 March 2003
Promoter – Financial Intermediary
Egyptian Electricity Holding Co. (EEHC)Location
Description
The project consists of a second 750 MWe dual-fired (natural gas and light fuel oil) combined-cycle gas turbine (CCGT) generation module at a new power station that is currently under construction at Nubariya. The power station is designed to accommodate two such CCGT modules; the proposed second generation module is technically identical to the first module for which the Bank signed a loan contract in September 2002.
Objectives
The project will meet growing electricity demand at a competitive cost using modern energy efficient technology with a relatively low environmental impact. The plant will utilise natural gas for which abundant national reserves are proven and will thus contribute to the use of indigenous resources and the rational use of energy.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 150million
Total cost (Approximate amount)
Estimated at some EUR 340million
Environmental aspects
An Environmental Impact Assessment will be carried out according to Egyptian law. The use of natural gas in a modern combined-cycle power plant is expected to result in a relatively low level of pollution. Air and water pollution emissions will comply with all national and World Bank standards.
Procurement
EEHC intends to tender the project in individual lots, using international competitive bidding procedures, as is the case for the earlier projects being financed by the Bank.
Status
Signed - 15/07/2003