Egypt signs deal for new power plant
31 July 2012
Hassan Yunis, the Egyptian minister for electricity and energy, has announced a significant new deal for the country’s long-term power infrastructure, the Egypt State Information Service reports.
Under the terms of the agreement, a power plant featuring a steam turbine and a condenser are to be constructed at a cost of 1.5 billion Egyptian pounds.
The project is seen as key to the country’s long-term economic development plans and is one of the projects designed to stimulate growth over the next five years, Mr Yunis confirmed.
He confirmed, too, that the new plant will be fully operational by 2015 and will be linked to the 500-kilovolt unified national power grid.
Egypt, of course, currently finds itself in the midst of extreme political unrest, but plans designed to stimulate the economy have not been totally neglected.
Indeed, projects such as these are key to accelerating economic growth in Egypt.