Egyptian state generator EEHC has secured the financing required to proceed with the $1.3bn development of a 1.8GW combined cycle gas turbine (CCGT) plant 5km northwest of Damanhour in Egypt’s western Nile Delta region. The Cairo government has also secured broader financial support for energy reforms.

The European Investment Bank (EIB) says it will contribute $600mn of financing for the Damanhour project, in addition to $200mn each from the European Bank for Reconstruction and Development (EBRD) and the Arab Fund for Economic and Social Development (AFESD). (CONTINUED - 418 WORDS)