ICEC

Siemens plants capacities will be completely connected to national grid end-June

Siemens has added 13,600 Megwatt to the national grid from three plants at the New Administrative Capital, Brulus and Beni Suef according to the Minister of Electricity, Mohamed Shaker.

He during a press conference that the company would add 800 MW from the three plants by the end of the current month so that the total capacity of the plants will reach 14,400 MW.

Siemens plants will be completely connected to the national grid by the end of June 2018.

The Ministry of Electricity has contracted Siemens to establish three power plants with a total capacity of 14,400 MW through an EBC + Finance system. Siemens handles design, construction, and financing, while EEHC repays the loan over several years.

Three German banks, KfW Development Bank, HSBC, and Deutsche Bank, secured funding for Siemens’ projects in Egypt, amounting to €4.1bn of a total contract value of €6bn. Arab banks secured the remaining funding in Egyptian pounds to pay for the Egyptian companies participating in construction, including Elsewedy Electric and Orascom.

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