Sisi approves $60 million Power Plant Loan

President Abdel Fattah al-Sisi has ratified a US$60 million loan agreement with the Saudi Fund for Development to finance an expansion project of Al-Shabab power plant.

The agreement was signed by the Egyptian government earlier on November 1^st, 2014.

The project aims to add 500 megawatts to the Al-Shabab power plant, giving it a total capacity of 1500 megawatts.