Release date: 13 April 2004
Promoter – Financial Intermediary
The Egyptian Electricity Holding Company.Location
Description
Construction of two new 750MWe natural gas-fired combined-cycle power generation modules at Talkha power station in the Nile delta (Damietta branch) and at El-Kuriemat power station on the Nile 90 km south of Cairo.
Objectives
To meet growing electricity demand at a competitive cost using modern energy efficient technology with a relatively low environmental impact. The project underscores the Bank’s support to the Egyptian Government’s policy of developing its energy production and expanding its basic energy infrastructure needed for the economic development of the country.
Comments
Electricity.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 150m.
Total cost (Approximate amount)
Estimated at some EUR 470m.
Environmental aspects
Environmental Impact Assessment procedures will be carried out in accordance with Egyptian law, which, given the technical characteristics of the project, requires a full EIA with formal public consultation, in line with the requirements for this type of project within the EU. The use of natural gas as a main fuel, combined with low-emission combustion technology, is expected to result in a relatively low level of atmospheric pollution.
Procurement
The project will be tendered in individual lots. using international competitive bidding procedures, as is the case for the earlier projects being financed by the Bank.
Status
Signed - 17/12/2004