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FINANCIAL NEWS
Egypt Elect confirms with NI Capital to set up 4 firms
23 May 2016
(MENAFN) The Ministry of Elect and Renewable Energy confirmed with NI Capital Co. to promote and cover the IPO, in order to establish four companies for electricity production.
Moreover, three of the firms applied by the German firm Siemens in Borollos, the New Administrative Capital and Beni Suef.
Additionally, Siemens will establish three joined power plants, which the exhaust gas will be reused to produce energy at a cost of USD 6.73bn and USD 4.48bn of the land and equipment.
The fourth co. will be responsible for the operation and maintenance of these plans with investments of USD 2.3bn, which is part of the five-year plan to enhance capacity.
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