01 September 2016

Egypt’s Ministry of Electricity has finalised negotiations for three projects costing $7 billion.

The projects include Dairut’s 2,250-MW combined-cycle power plant to be built by Acwa Power, Al Nowais’s 2,640-MW coal power plant in the Oyoun Mousa area, and Gulf of Suez’s 250-MW wind plant to be built by the Toyota alliance, the Daily News Egypt reported.

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 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.

Negotiations with Acwa Power to establish the Dairut power plant are complete, except for the agreement on arbitration, the report said.

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.

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