Egypt, Elsewedy review progress on Ain Sokhna phosphate complex    US employment cost index 3.6% up in year to June 2025    Egypt welcomes Canada, Malta's decision to recognise Palestinian state    Pakistan says successfully concluded 'landmark trade deal' with US    Sterling set for sharpest monthly drop since 2022    Egypt, Brazil sign deal to boost pharmaceutical cooperation    Modon Holding posts AED 2.1bn net profit in H1 2025    Egypt's Electricity Ministry says new power cable for Giza area operational    Egypt's Al-Sisi, Italian defence minister discuss Gaza, security cooperation    Egypt's FM discusses Gaza, Nile dam with US senators    Aid airdrops intensify as famine deepens in Gaza amid mounting international criticism    Egypt exports first high-tech potato seeds to Uzbekistan after opening market    Health minister showcases AI's impact on healthcare at Huawei Cloud Summit    On anti-trafficking day, Egypt's PM calls fight a 'moral and humanitarian duty'    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    I won't trade my identity to please market: Douzi    Sisi sends letter to Nigerian president affirming strategic ties    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



World Bank helps finance Helwan power plant
Published in Daily News Egypt on 09 - 11 - 2013

Egypt and the World Bank have signed an agreement to help finance the South Helwan power plant project, a gas power plant that will bolster the former's electricity supply, according to a press release from World Bank.
The project will contribute 10% of Egypt's new power generation capacity to be added by 2018, according to Inger Andersen, the World Bank's vice president for the Middle East and North Africa.
The South Helwan project will create 4,000 job opportunities, 75% of them during the construction phase, read the statement. The bank also noted that electricity generated from the plant will be distributed to grid-connected consumers in all sectors, including agriculture, providing consumers in rural areas with better quality electricity.
"The project is part of a broader program which aims to help the country address energy policy issues and meet the growing electricity demand in a sustainable manner," read the press release.
The agreement was signed on 5 November by Deputy Prime Minister and Minister of International Cooperation Ziad Bahaa El-Din and Andersen.
Bahaa El-Din was quoted in the statement as saying that the project plays a major role in "boosting confidence and enhancing investments in the sector during this critical period."
Bahaa El-Din arrived in Washington DC last Tuesday as part of a three-day visit to meet senior officials responsible for social development and infrastructure in his first trip to the United States since the formation of the interim government.
The fund for the Organization of the Petroleum Exporting Countries (OPEC) had announced in September that it would help finance the South Helwan Power Station by contributing $70m to the project.
Minister of Electricity Ahmed Emam had said then that the Helwan station development project would form part of the 2012-2017 five year plan set by the government to supply enough electricity to meet growing demand. The station is said to produce 1950 megawatts (MW) of electricity.
Along with the World Bank and OPEC, this project is financed by international institutions such as the Arab Fund for Economic and Social Development, Islamic Development Bank and Kuwait Fund for Arab Economic Development.
A 2,500 megawatt (MW) deficit caused by a fuel supply shortage, combined with high consumption, has led to the return of blackouts since September.


Clic here to read the story from its source.