Japan International Cooperation Agency (Jica) has signed loans on Egyptian projects worth a total of about $477m during Egypt’s President Abdul Fattah al-Sisi’s visit to Tokyo.
The investment is set to benefit the country’s power generation and distribution infrastructures.
In the electricity sector, Jica is to lend $219m to Egyptian Electricity Holding Company (EEHC) to improve efficiency in transmission and distribution in North Cairo, Alexandria and North Delta. It is also providing $99m of project finance for a 20 MW solar project with storage in Hurghada.
In addition developer Marubeni is to sign a memorandum of understanding (MoU) to carry out a feasibility study for a 4,000 MW $3.5bn coal-fired power plant, according to Japan’s English-language business journal Nikkei Asian Review. Itochu plans to sign an MoU to supply coal for the plant.
Mitsubishi Corporation is also expected to sign an MoU for a 1,300 MW gas combined-cycle power facility.
[bc_video account_id=”1214147015″ player_id=”4697982639001″ video_id=”4781549281001″ min_width=”320px”]