Sinohydro to sign deal for major hydropower plant in Egypt at end-Dec.

Big 5

Egypt and Chinese construction company Sinohydro will sign contract to build a major hydropower plant in Ataqa Mountain region in the Red sea by the end of next December, sources told Amwal Al Ghad on Sunday.

Egyptian gornment signed earlier this month with the Chinese firm a $2.6 billion framework agreement to establish the Middle East’s first major hydropower plant, to produce a 2,400 megawatt of clean power using special pumped-storage hydropower technology to be used in Ataqa.

Sinohydro is part of Chinese engineering and construction firm PowerChina, also known as Power Construction Corp of China (SHA:601669).