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FINANCIAL NEWS
Egypt’s El Sewedy Electric signs 2 power plant contracts
06 Jan 2015
(MENAFN) Egypt’s El Sewedy Electric announced that it has signed a contract to build two power stations in Egypt through one of its subsidiary companies, with the country’s Ministry of Electricity, as the country continues to look for solutions to deal with the increased demand for energy resources in the Arab’s worl most populated country, Egypt Daily reported.
Under the signed contracts, El Sewedy Electric will design, supply, build, install, and test two projects for electricity generation using 6 gas turbine units worth USD706 million, with the project expected to run on natural gas or diesel and will be connected to the national grid gradually starting from May till August 2015.
The company said that the first project, which will be executed in Ataqa power plant in Suez, will have a capacity of 650 MW and depends of 4 gas turbine units, while the second project will be done in Mahmoudya with a capacity of 330 MW with 2 gas turbine units.
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