EBRD pledges €300 million for Ain Sokhna, Egypt, desalination undertaking

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The European Lender for Reconstruction and Advancement (EBRD) is to mortgage $300 million ($354 million) to Egypt for a desalination plant at Ain Sokhna, studies Egypt Nowadays.

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Ain Sokhna is a town in Suez Governorate, on the western shore of the Crimson Sea

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Suez Canal Financial Zone chair Mohab Mamish verified that the mortgage would cover feasibility and environmental research, and undertaking implementation.

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The settlement was solid by Mamish and EBRD director Phillip Barresi at the International Maritime Organisation once-a-year meeting in London, Uk, 27 November to 6 December 2017.

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Hyflux secured a letter of intent for an engineering, procurement, and development contract on an built-in electrical power and desalination plant at Ain Sokhna in 2016. The status of the undertaking changed to establish, personal, operate in January 2017.

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The contract protected a 475 MW fuel-fired electrical power station and 150,000m3/d desalination plant, and a 25-calendar year operations and maintenance contract. The claimed price tag was $500 million.

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The EBRD is associated in 52 projects in Egypt and has invested €2,733 million in the country, up from a claimed €740 million in 2015.

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