China Railway eyes building $2.2bn-power plant in Egypt
China Railway Company has submitted an offer to Egyptian electricity ministry Wednesday to build energy plant with investments estimated at US$2.2 billion, firm’s representative Mohsen Al-Daly told Daily News Egypt.
The power plant is set to operate through a combined-cycle system with the capacity of 2,000 MW, the official added.
He added that the Chinese company is seeking to enter the newest technology in the plant through the global investment system EPC+Finance.
The system consists of engineering, procurement, and construction of the plant, in addition to securing necessary investments from international financing institutions or from the Export-Import Bank of China. These investments will be repaid on long terms and large facilitations.
Al-Daly announced that China Railway is about to prepare a complete file to present it to the Ministry of Electricity. The file will include the project’s technical and economical feasibility studies, finance mechanisms, repayment, and the cost of KWs generated from the plant.
The company has large experience in establishing a number of power plants, with capacities ranging between 1,200 MW and 3,000 MW.
China Railway is willing to pump investments worth $4bn in the Egyptian market over the next year. The company seeks to participate in the new administrative capital project, the project of establishing a monorail train between 6th of October City, Sheikh Zayed City, and Giza governorate, in addition to a traditional power generating plant.
The studies have been conducted for the monorail train project, which is set to link 6th of October and Sheikh Zayed with Giza through 12 stations in the first phase. The second phase will include five stations through the Rod El-Farag axis, which is currently being implemented. There will be a total of 17 monorail stations.
The project’s first phase will start from Cairo-Alexandria Desert Road, passing through two stations in Sheikh Zayed City, followed by stations in Juhayna Square in 6th of October City and the Egyptian Media Production City (EEPC), until the beginning of Wahat Road.
As for the second phase, it will reach the Warraq region at the end of the Metro’s fourth line, which is expected to be implemented during the current year, according to Minister of Housing Mustafa Madbouly’s previous statements.
The government is seeking to establish the new administrative capital project, and the area of its first phase will be 10,500 acres. This phase includes a governmental neighbourhood including a number of ministries, the International Trade Centre, the first phase of international medical city, and a fairground city.
Source: Daily News Egypt
