The Finance Ministry is set to meet next month with the China Development Bank (CDB) to discuss the latter’s offer to finance the USD 4.4 bn, 6 GW Hamrawein “clean coal” power plant ahead of issuing a letter of guarantee for the project, according to unnamed government sources. CDB is reportedly offering USD 3.7 bn in financing to the Egyptian Electricity Holding Company for the construction while the remainder is expected to come from local banks. The Egyptian government was said in October to have been seeking better terms from the CDB on the financing package. The construction of the plant was awarded to a consortium of Chinese companies including Shanghai Dongwei Electric Appliance Co. and Hassan Allam Holding.

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