$2.3 billion power plant deal signed between Egypt and Saudi ACWA Power

Minister of Electricity and Renewable Energy, Mohamed Shaker. Photo: RR

NEWSROOM (ADV) – Egypt signed a deal on Thursday with Saudi Arabia’s ACWA Power to build a power plant in southern Egypt involving investment of $2.3 billion, the Egyptian electricity minister, Mohamed Shaker, said.

The plant, which will have capacity of 2,250 megawatts (MW), would be built in Luxor province in southern Egypt, the minister told a news conference.

Shaker added that the ministry has provided all consumers with their electricity needs and currently works on improving the quality of produced power. The electric surplus would be exported to a number of countries, including Jordan, Libya, and Saudi Arabia, as well as some African countries.

The Ministry of Electricity aims to increase local inputs in electricity production projects and plans to localise the maintenance process of power plants, rather than relying on foreign companies that cost the ministry a lot of money.

© Bur-csa – A.H / S.E – African Daily Voice (ADV)