Egypt Independent

Negotiations with OPEC to build power plants



A senior official said the government agreed to negotiate with the OPEC Fund for International Development (OFID) to build power plants within the development plan that was devised by the Ministry of Planning.

Speaking on condition of anonymity, the official said the Ministry of Electricity was assigned to hold the negotiations, especially that the fund is attending the meeting of the International Atomic Energy Agency in Vienna in the coming few days. 

He said there are seven areas suggested for the power plants that he did not specify, adding that the fund had financed successful project with the Egyptian government before. 
 
Egypt had earlier signed a loan of $70 million with the OPEC fund to finance part of the South Helwan power plant.
 
Established in 1976, the fund seeks to strengthen cooperation between OPEC member states and other developing countries.
 
Edited translation from Al-Masry Al-Youm