Kharafi to build 2 power plants in Egypt
Cairo, October 19, 2010
Egypt's Electricity Ministry will sign a deal in days with Kuwait's Kharafi Group to build two power plants in Egypt with a combined capacity of 1,000 megawatts, a spokesman for the ministry said on Tuesday.
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 'within days, most probably next week', 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.-Reuters
More Energy, Oil & Gas Stories
- Saudi Nov output steady, pumps 9.745m bpd
- Libya lost $7bn to oil strikes, says minister
- Iran to start gas exports to Iraq by July 2014
- Taqa invites banks ahead of bond issue
- Dewa ups 2014 budget by $1.8bn from 2013
- Egypt govt pens energy debt payoff deal
- Qatar ready to invest in Turkey power project
- Asia gasoline margins set to plunge in 2014
- Egypt signs oil exploration deals with foreign firms
- Eaton appoints new Mideast GM