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FINANCIAL NEWS
Algeria, GE hold talks to set up power plants
07 May 2013
(MENAFN) Algeria’s Minister of Energy and Mines, Youcef Yousfi, announced that the ministry is in discussions with General Electric to build several power plants in the North African country, reported Xinhua News.
Yousfi said that Sonelgaz, the state-run electricity and gas utility group, has outlined the largest possible contract with the US company to generate 8400 MW of electricity.
The country plans to invest USD40 billion to meet the rising energy demand until 2019.
It is worth noting that talks between GE and Algeria also cover establishing the largest power plant in Africa and the Arab region.
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