Egypt commissions first construction phase of Orient Gas Pipeline

Jul 08, 2002 02:00 AM

The government of Egypt has commissioned the first construction phase of the $ 220 mm Orient Gas Pipeline, linking Egypt to Jordan to begin. The channel has a target date of completion set for March 2003 and is expected to earn Egypt $ 400 mm in revenues annually once fully operational.

Expected to boost inter-Arab investment, the natural gas export deal to Jordan is part of a pact signed between the two countries in June 2001 within the framework of a major project to transport Egyptian gas to Jordan, Syria and Lebanon. The 278 km-long gas pipeline will be extended for 18 km under water of the Gulf of Aqaba, 850-meters down to reach the Jordanian mainland.
The Arab Fund for Economic and Social Development (AFESD) granted Egypt a $ 55 mm soft loan for the project and the Kuwaiti Development Fund contributed $ 108 mm in loans for the pipeline. The rest of the financing is being covered by Egyptian funds.

Source: Al-Bawaba
Alexander's Commentary

A Future?

After a long editorial silence, it is time again for a comment on world affairs.

Whilst reading through the m

read more ...
Support Our Work
« October 2014 »
October
MoTuWeThFrSaSu
1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31

Register to announce Your Event

View All Events