Egypt signs power plant electrical operations contracts in Egypt
13 March 2014
Egypt Commercial News
The Egyptian Ministry of Electricity has signed three contracts for electrical operations in the 650MW steam cycle thermal power plant being cosntructed in Suez city, 150km east of Cairo, Egypt.
Egyptian Ministry of Electricity spokesman Aktham Abou El-Ela said the contracts with a value of EGP105m ($15m) were signed between the Egyptian and foreign companies.
"The project is composed of 19 processes, of which 16 have been finished by signing these three contracts," El-Ela added, without disclosing the names of the companies.
A new agreement is expected to be signed tomorrow with a value of approximately EGP400m ($57m).
Comprising a steam boiler that operates using natural gas and diesel oil, as well as a 650MW steam turbine, the project is scheduled to be implemented over a period of five years, and will be connected to the national electricity grid.
The power plant is expected to start commercial operation in early 2016.
Requiring an investment of EGP4.7bn ($669m), the Suez power plant project will be partially financed by the Islamic Development Bank, African Development Bank, the National Bank of Egypt, as well as the East Delta Electricity Company, Egypt Independent reports.