Egypt inks USD 98.7m contract for power project

23 Nov 2015

(MENAFN) The Egyptian government and the Kuwait Fund for Arabic Economic Development (KFAED) signed a contract with USD 98.7mn.

Moreover; the aim of this contract is to donate to financing the Egypt-Saudi power grid project.

Additionally, this project attempts to exchange power between Egypt and KSA, and to develop the economy of process and help the constancy of the two networks.

In more detail; the whole value of this project is projected as USD 1,704.43mn, with almost USD 656.814mn for the project established in Egypt.

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