The Kuwait Arab Fund for Economic Development (KFAED) has signed a KD50m ($170m) loan to assist Egypt develop a sewage treatment plant in the northeast of the country.
The wastewater plant, to be built east of the Suez canal, will have the capacity to treat 5 million cubic metres a day of sewage water from three towns.
Money from the loan will also be used for developing land and building an agricultural manufacturing facility.
The loan will cover 21.2 per cent of the total $3bn construction costs. Another two loans will be agreed to provide the remaining finance for the wastewater plant and agricultural infrastructure.
The project is part of Egypt’s programme to upgrade and expand the country’s wastewater infrastructure. MEED reported in early July that France’s Veolia had been awarded a contract by Egyptian Electricity Holding Company (EEHC) to build and install water and wastewater treatment plants to serve major power plants.
The French firm will construct the water and wastewater plants for the Assiut Supercritical and Cairo West power plants.
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