Egypt’s Ministry of Electricity has finalised negotiations for three projects costing $7 billion, a report said.
The projects include Dairut’s 2,250 MW capacity combined-cycle power plant to be carried out by Acwa Power, Al-Nowais’s 2,640 MW capacity coal power plant in the Oyoun Mousa area, and Gulf of Suez’s 250 MW capacity wind plant to be carried out by the Toyota alliance, added the Daily News Egypt report.
The ministry is planning to finalise the contracts for the three projects, the report said.
All the technical, financial, and legal aspects of establishing the Suez Gulf’s wind plant at a cost of $300 million have been agreed upon with the alliance of Toyota, Orascom, and GD France, according to the report, which noted that the arbitration issue led the signing to be delayed, quoting a source.
Negotiations with Acwa Power to establish the Dairut power plant are complete, except for the agreement on arbitration; the report quoted a top official as saying.
The Dairut power plant is estimated to cost $2.2 billion. It will be established on 70 feddans and consist of three units, each generating 750 MW through combined-cycle technology, the report said.