ElSewedy Electric to build two power plants
The 650MW and 330MW projects in Egypt will be up and running by August.
ElSewedy Electric has been contracted by Egypt's ministry of electricity to build two power stations to help ease the country's short term energy crisis.
The company will design, supply, build and install the plants worth a combined $706mn, with both due to be grid connected by August, it said in a stock exchange announcement.
The first project will be Ataqa power plant in Suez with a capacity of 650 MW from four gas turbines while the second will be done in Mahmoudya with capacity of 330 MW with 2 gas turbine units.
The plants, to be designed by Siemens and Ansaldo Energia respectively, will use a simple cycle initially and be converted combined cycle later.
Longer term Egypt is looking to renewable energy to help meet its power needs and recently tendered 4.3GW worth of wind and solar projects.
It is hoped they could supply as much as 20% of energy demand in future.
The two projects are part of Egypt’s emergency plan for increasing electricity production before the summer of 2015.