Tharwa Investments, a leading player in the asset management services sector, has signed an agreement with Egypt's government to build the world’s largest coal-fired power plant at a cost of $11 billion.

The pact for the single-site 6,000 MW plant was sealed by the officials of FourWinds Group of Companies, a unit of Tharwa Investments, and the Ministry of Electricity at the Egypt Economic Development Conference held recently in Sharm El Sheikh.

A specialised group focusing on investments and projects in infrastructure, industry, natural resources and real estate, FourWinds Group also established a $1-billion fund dedicated to infrastructure investments in Egypt.

Commenting on the venture, Tharwa said the fund is part of the FourWinds Capital Management’s growing interest in infrastructure-related projects in the Egyptian market.

It is in line with the group’s strategy to attract developments and international investments into the growing Egyptian market, the company stated.

The FourWinds Group offers a hybrid structure that combines exceptional project development skills with global asset management capabilities that include excellent experience in seeding developments and managing assets and investments around the globe.

The combination of these two critical arms is a significant advantage that enables FourWinds, as a group, to become uniquely qualified to deliver a project of this scope and magnitude.

"Our international investor base as well as our regional capital sources are looking very positively at the recent developments in Egypt, and as a global infrastructure fund manager, we are extremely well positioned to launch and manage this Egypt-centric opportunity,” remarked Vivek Rao, the newly-appointed CEO of Four Winds Capital Management.

“FourWinds is strongly committed to participating in the growth and development of this dynamic economy. We see enormous opportunities in power, water, transport, and other areas of critical investment and look forward to contributing to a prosperous future for Egypt,” he added.-TradeArabia News Service