Egypt Secures Saudi Power Loans

Egypt has secured three agreements worth a total $350mn from the Saudi Fund for Development. These will provide $100mn to help upgrade two gas-fired power plants for more efficient combined-cycle operation and $250mn for the purchase of oil products from Saudi Arabia.

Egyptian Electricity Holding Company (EEHC) plans to add heat recovery steam generators to gas turbines currently operating in open cycle mode at the 500MW Damietta West and 1GW El-Shahab power plants. This will raise their combined capacity to 2.25GW from the same gas feed requirement of 320mn cfd.

EEHC recently started work on a 650MW oil-fired power plant at Suez for start-up in mid-2016 (MEES, 3 October). The company is also building the 1.95GW gas-fired South Helwan plant and upgrading the 620MW Al-Wadiya oil-fired plant. President Abdel Fatah al-Sisi says Egypt needs to add 2.5GW of power capacity each year for the next five years (MEES, 12 September). (CONTINUED - 295 WORDS)