El Sewedy Electric wins €785 mln Portion of Siemens Power Plant Deal

Egyptian cable company El Sewedy Electric said on Thursday it had won a 785 million euro portion of a 2 billion euro ($2.27 billion) deal to build a combined cycle power plant in Beni Suef, south of Cairo, in a consortium with Germany’s Siemens.

The plant will use Siemens’s H-class gas turbines. Siemens said on Wednesday it signed an 8 billion euro deal ($9 billion) with Egypt to supply gas and wind power plants to boost the North African country’s electricity generation by 50 percent.

source:Reuters