On June 17th, Dr. Mohamed Shaker, Minister of Electricity and Energy of Egypt, met with Mr. Zhing Jianhua, representative of Shanghai-Electric, a member of a consortium with Dong Fang, which is the winner of the 6,000 MW Al-Hamraween power plant clean coal project.
The meeting touched on the position of the project now, after the conclusion of rounds of negotiations on the technical supplements. The Minister of Electricity assured the winner consortium that formal action will soon be taken towards the conclusion of the necessary contracts for the implementation of the project, which has an investment of about US $ 4.4 billion.
The loan is repaid through a Chinese bank. Negotiations are underway with an official committee formed by several government agencies on the terms of funding, interest rates and the repayment period.
