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150M. Euro for second stage of Nubariya power station
Egypt-European Union, Economics, 7/8/2003
The extraordinary meeting of the General Assembly of the Electricity Holding Company Monday approved under Egypt's Minister of Electricity and Energy Hassan Younis an agreement on a loan of 150 million euros offered by the European Investment Bank (EIB) to finance the second stage of the 750-megawatt Nubariya power station project.
The assembly also approved an agreement of a 5-billion-yen loan offered by the Japan Bank for International Cooperation (JBIC) to finance the foreign components for the 500-kilovolt Cairo-Nubaraiy-Sidi Krir power grids. This project contributes to sustaining the Arab power linkage line between Egypt and the Arab Maghreb countries.
Younis said the 5-year plan for the sector was prepared on a basis of a growth rate in power consumption tantamount to 5.5 percent annually but the drastic change in consumption patterns led to a rise of 7.5 percent.
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Government share in 12 companies for sale
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100 million to build three power transformer stations
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