The Kuwait Fund for Arab Economic Development will loan US$115.5 to help with the funding of a seawater desalination plant for the city of Port Said.
Two grants in total were signed – one for relieving socio-economic impacts in health, including water and sanitation, and the second to help finance a feasibility study to establish solar energy plants.
The 150,000 m3/day desalination plant is expected to use reverse osmosis membrane technology, with a 700km water distribution network included in the project.
A completion date of 2019 has been slated for the project, according the Kuwait News Agency.
The loan term is 25 years, including a grace period of five years.
Earlier this year Singapore firm Hyflux entered the Egyptian market with a contract to develop a 150,000 m3/day desalination plant.