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FINANCIAL NEWS
Kharafi to build two power plants in Egypt
20 Oct 2010
(MENAFN) A spokesman for Egypt’s Electricity Ministry said that the government will sign a deal soon with Kuwait’s Kharafi Group to build two power plants in Egypt with a combined capacity of 1,000 megawatts, Reuters reported.
Egypt, which has about 25,000 MW of installed capacity, suffered repeated outages this year and plans to spend $100-120 billion to triple capacity by 2027 by adding about 58,000 MW.
Ministry spokesman Aktham Abul Ela said the contract would be signed before the end of this month, adding that the plants would cost a combined $645 million to build.
The two plants, each with capacity of 500 MW, will be located in Ismailia on the Suez Canal and Damietta on the Mediterranean coast.
More News
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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