Egyptian power company seeks investment opportunities

A technical and economic delegation from the Arab Fund for Economic and Social Development will arrive in Cairo this week for talks with Electricity and Energy Ministry officials on contributing to funding the building of a power station in El Nubaria whose feasibility study was finished.

Electricity and Energy Minister Hassan Yunis said Misr Electricity Company experts finished all technical and feasibility studies for the station, to operate and link the unified power network in 2005.

The investments necessary to build the Nubaria power station are estimated at $ 429 million, said the minister, adding that the building of the station would be on two stages.

The power station would operate with natural gas, he said.

"The ministry received initial approvals from Arab Fund and the European Investment Bank to contribute to financing the station," Yunis said.