The Ministry of Electricity and Energy said on Wednesday that it is moving forward with plans to build a steam-electric power station in Suez. The station is expected to be operational in late 2015.
Electricity Minister Saad Mahmoud Balbaa said in a statement issued on the ministry’s website that the project is part of a five-year plan to bolster the power grid to cater to increasing loads and development plans.
The total cost of the project is estimated at LE4.5 billion, or about US$740 million, which is being financed by the African Development and the Islamic Development banks and the East Delta Electricity Production Company.
The station will run on natural gas and diesel oil and its total production capacity is expected to be 650 megawatts.
