Saudi Arabia: More support for Egypt power

Egyptian international co-operation minister Dr Sahar Nasr and Saudi Fund for Development chairman Dr Ibrahim Assaf signed a $100m financing agreement for the Cairo West power plant. This 650MW gas-fired steam turbine plant is being developed by state-owned Egyptian Electricity Holding Company at an estimated $700m cost. Other sources of funding are National Bank of Egypt, the Kuwait Fund for Arab Economic Development, Kuwait-based Arab Fund for Economic Development and the Jeddah-based Islamic Development Bank. The plant is expected to start operation in November 2019.