ID :
153271
Mon, 12/13/2010 - 16:50
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Shortlink :
https://oananews.org//node/153271
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ADFD funds Banha Power Station Project in Egypt with Dh184 million
Abu Dhabi, Dec 13, 2010 (WAM)- The Abu Dhabi Fund for Development (ADFD) signed yesterday a Dh183.560 million loan agreement with the Government of Arab Republic of Egypt to finance the Power Station Project in Banha.
The signing ceremony was attended by Prime Minister of Egypt Dr. Ahmed Nazif, and UAE Minister of Economy Sultan bin Saeed Al Mansouri, while the agreement was signed by Mohammed Saif Al Suwaidi, Deputy Director General of ADFD, and Fayza Abul- Naga, Egyptian minister of international cooperation, in presence of UAE Ambassador in Egypt Mohammed bin Nakhira Al Dhaheri, Electricity Minister Hassan Younis and a number of officials from both sides.
At the signing ceremony, Al Suwaidi commented that this loan comes in the framework of ADFD's and Abu Dhabi's keenness to provide all kinds of support to the brotherly state of Egypt, pointing out to the deep and historic relations between the United Arab Emirates and Egypt in all fields.
For her part, Fayza Abul-Naga conveyed the Egyptian government's gratitude and appreciation to the UAE in general, and to the government of Abu Dhabi in particular, for their constant support to the Egyptian people.
"This support", she said, "reflects the deep-rooted, brotherly and exceptional bilateral ties between the two countries." The Egyptian Minister stressed that the Banha Power Station project is designed to reinforce the Egyptian economy, as it would benefit in meeting the increasing demand on electricity and the expected rise in power load in the Middle Delta region.
"The Banha Power Plant Project", she explained, "comprises the development and construction of a power plant with a generation capacity of 750 megawatts and linking it to the national grid on 220 KV high voltages. It consists of two gas units and a steam unit, each of them has the capacity of 250 megawatts and is equipped with 2 heat recovery boilers, 3 power generators, 3 main power transformers, capacitor and breakers on 220 KV high voltage to link the project's generation units to the grid; all civil, mechanical and electrical works in addition to consultancy and insurance services." It is worth mentioning that ADFD's cooperation with Egypt started in 1974. To date, ADFD has offered development loans totalling more than Dh746 million to finance vital projects such as: Talkha Fertilizer Plant, Omar Al-Khaiam Hotel, Abu Qir Power Plant, Sues Canal Development, Land Reclamation in Western Nobaria and supporting the Social Fund for Development.
The ADFD has also provided grants with a total value of around Dh312 million for agricultural investments, expansion of El Hammam Canal, construction of peasants' houses in Al Khatara and preparing an economic feasibility study for Al Naqra Agricultural Project.
Additionally, the government of the emirate of Abu Dhabi has offered around Dh3 Billion in loans allocated for the Sues Canal reopening, Construction of Sheikh Zayed City and Naser Complex and development of the southern part of the valley. – Emirates News Agency, WAM
The signing ceremony was attended by Prime Minister of Egypt Dr. Ahmed Nazif, and UAE Minister of Economy Sultan bin Saeed Al Mansouri, while the agreement was signed by Mohammed Saif Al Suwaidi, Deputy Director General of ADFD, and Fayza Abul- Naga, Egyptian minister of international cooperation, in presence of UAE Ambassador in Egypt Mohammed bin Nakhira Al Dhaheri, Electricity Minister Hassan Younis and a number of officials from both sides.
At the signing ceremony, Al Suwaidi commented that this loan comes in the framework of ADFD's and Abu Dhabi's keenness to provide all kinds of support to the brotherly state of Egypt, pointing out to the deep and historic relations between the United Arab Emirates and Egypt in all fields.
For her part, Fayza Abul-Naga conveyed the Egyptian government's gratitude and appreciation to the UAE in general, and to the government of Abu Dhabi in particular, for their constant support to the Egyptian people.
"This support", she said, "reflects the deep-rooted, brotherly and exceptional bilateral ties between the two countries." The Egyptian Minister stressed that the Banha Power Station project is designed to reinforce the Egyptian economy, as it would benefit in meeting the increasing demand on electricity and the expected rise in power load in the Middle Delta region.
"The Banha Power Plant Project", she explained, "comprises the development and construction of a power plant with a generation capacity of 750 megawatts and linking it to the national grid on 220 KV high voltages. It consists of two gas units and a steam unit, each of them has the capacity of 250 megawatts and is equipped with 2 heat recovery boilers, 3 power generators, 3 main power transformers, capacitor and breakers on 220 KV high voltage to link the project's generation units to the grid; all civil, mechanical and electrical works in addition to consultancy and insurance services." It is worth mentioning that ADFD's cooperation with Egypt started in 1974. To date, ADFD has offered development loans totalling more than Dh746 million to finance vital projects such as: Talkha Fertilizer Plant, Omar Al-Khaiam Hotel, Abu Qir Power Plant, Sues Canal Development, Land Reclamation in Western Nobaria and supporting the Social Fund for Development.
The ADFD has also provided grants with a total value of around Dh312 million for agricultural investments, expansion of El Hammam Canal, construction of peasants' houses in Al Khatara and preparing an economic feasibility study for Al Naqra Agricultural Project.
Additionally, the government of the emirate of Abu Dhabi has offered around Dh3 Billion in loans allocated for the Sues Canal reopening, Construction of Sheikh Zayed City and Naser Complex and development of the southern part of the valley. – Emirates News Agency, WAM
