Suez Cement to Start Wind Power Project of $170 Mln Soon

Suez Cement (SUCE.CA) announced that it has obtained approvals from Egypt’s Ministry of Electricity so as to carry out the wind power generation project – phase I of total costs worth €140 million (around $170 million).

Bruno Carré, Managing Director, said Suez Cement will be carrying out the project – phase I soon after filling the final requirements.

“Filling the rest of the required procedures comes a little bit late due to the political instability Egypt has witnessed.” Carré added

“The project is expected to generate about 120 mega watt which would save around 40% of the total energy rates used by the company.”

Carré also mentioned that Suez Cement’s project will probably be self-finance without resorting to external sources.