China Eximbank to finance Egypt’s USD 2.6 bn Attaqa hydroelectric plant

China Eximbank to finance USD 2.6 bn large-scale Attaqa hydroelectric plant: The Egyptian Electricity Holding Company has signed a financing agreement with the Export–Import Bank of China for the USD 2.6 bn, 2400 MW Attaqa pumped-storage hydroelectric plant, sources from the ministry said. EEHC is expecting to finalize the contracts for the project with China’s Sinohydro, the company developing the plant, by no later than late June. Plans for the massive-scale plant came into fruition during the EEDC, but were stalled for years until the president’s recent visit to China, where initial contracts were inked.