ElSewedy Electric inks Two Power Plants Contract

Egypt’s ElSewedy Electric said on Monday it signed a contract to build two power stations in Egypt through one of its subsidiary companies as a general contractor for the ministry of electricity.

ElSewedy Electric will design, supply, build, install, and test two projects for electricity generation using 6 gas turbine units worth $706 million, it added in a bourse statement.

The project will run on natural gas or diesel and will be connected to the national grid gradually starting from May till August 2015.

The first project will be executed in Ataqa power plant in Suez with a capacity of 650 MW and depends of 4 gas turbine units. Meanwhile, the second project will be done in Mahmoudya with capacity of 330 MW with 2 gas turbine units.

The two projects will use a Simple Cycle as a first stage and will be converted later to work with a combined cycle with separate contracts.