High Dam renovation contract signed with Swedish consortium

"The Aswan High Dam is Egypt's biggest national project and one that guarantees the continuity of sustainable development," Minister of Electricity and Energy Hassan Younis said yesterday.

He said the High Dam's generation station was the most important power station in Egypt, with a capacity of 2,100 megawatts or enough to cover 15 per cent of the country's total electricity requirements.

His remarks came following the signing ceremony for renovation of the high dam's generators.

The Hydroelectric stations company and a Swedish consortium will implement the upgrades of the 12 generators. "Total investments to be pumped into the renovation process are estimated at 264 million Deutschemark," he said.

"The German Bank for reconstruction will provide 170 million deutschemark in the form of a soft loan with less than one per cent interest and payable over 50 years," Younis said, adding that the renovation would add another 30 years to the 35-year-old generators.