Qa'dah 16, 1431, Oct 24, 2010, SPA -- The Jeddah-based Islamic Development Bank Group (IDB) and the Egyptian government have recently signed three deals in Cairo under which the bank will offer financial assistance amounting to $120 million to Egypt. The funds will be mainly used to launch a combined cycle power generating station in Banha, northwest Cairo, with a capacity of 750 megawatts. The planned station will use both steam generators and gas turbines to produce hot combustion gases, then the oxygen-containing gases from the turbines will be used to support combustion of the fuel in the steam generator. It aims to make better use of the country's gas resources, meet the growing demand for clean low-cost energy and improve the environment. The documents also include a Sharia-compliant $10 million loan to support medium and small enterprises in Egypt, according to a report of Qatar News Agency (QNA).
