The project sponsor is Electricite de France International S.A. (EDFI), a wholly owned subsidiary of Electricite de France (EDF). Established in 1992, EDFI is EDF’s investment arm outside France for power generation, transport and distribution. EDFI''s assets are currently estimated at US$4.8 billion equivalent. Currently, the project company, EDF Suez Gulf Power S.A.E., is 100% owned by EDFI.

Total project cost, including contingency, is estimated at about US$338 million. IFC is expected to provide an "A" Loan of up to US$45 million (for IFC''s own account) and a "B" Loan of up to US$152.5 million (for the account of participants). In addition, IFC is expected to undertake an interest rate swap for a direct exposure of up to US$3 million.

48.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management	3.0
Guarantee
Loan	45.0
Equity

* These investment figures are indicative

The project will be located on the western coast of the Gulf of Suez, which is part of the Red Sea, approximately 52 kms south of Suez City, Egypt.

This is a category A project under IFC’s environmental and social review procedure. Environmental and social issues associated with this project include: site selection, contamination of the proposed power plant site from current or past operations, air emissions and ambient air quality impacts including cumulative effects of the proposed project, global environmental issues (GHG emissions) and energy efficiency, noise from plant operations, water supply and availability, impacts of cooling water discharge, liquid and solid waste disposal, construction of associated facilities (e.g., pipelines, transmission lines, access roads, etc.), economic dislocation caused by land acquisition for the power plant or associated facilities, fire protection and emergency response, and general workplace safety.

The Environmental Impact Assessment (EIA) was prepared by ERM in London according to World Bank Group Guidelines and Policies. Public consultation was held on June 5, 2000 and the EIA was locally disclosed on October 24, 2000. The sponsor will continue on-going public consultation and disclosure throughout construction and operation as is documented in the Environmental Action Plan (EAP). A Resettlement Action Plan was not required for this project. The transmission lines associated with this project will be constructed by EEHC according to Egyptian and World Bank Guidelines and Policies.
Location of environmental documents In locally affected community
Egypt: EDF Suez Gulf Power S.A.E - 92 El Nile street, Apt. 12 Giza 11511