The Cabinet approved a request by the ministry to receive a loan of US$600 million from the European Investment Bank to create part of a new power station run by a gas turbine with a combined cycle system in Damanhour City, Beheira, the Electricity Ministry announced in a statement Friday.
The total investment in the Damanhur City power station so far reached $3.1 billion, said Electricity Ministry Spokesperson Mohamed al-Yamany. He added that the ministry would receive loans for the station from different domestic funders.
The power station will generate 1,800 megawatts, he added.
Edited translation from Al-Masry Al-Youm