OTMT wins Three Renewable Power Stations in Upper Egypt

Egypt’s Orascom Telecom Media and Technology Holding (OTMT) has been awarded three contracts to build three renewable energy power stations with investments worth over EGP 1 billion (US$137 million), deputy CEO Tamer Al-Mahdi announced.

Speaking to Amwal Al Ghad on Wednesday, Al-Mahdi said the three new power stations will locate in Aswan governorate as well as east and west of Minya governorate.

This comes among other tenders for new and renewable energy power projects launched by the Egyptian Ministry of Electricity.

OTMT’s deputy CEO further added that his company studies entering into many giant projects in field of transportation in the upcoming period through negotiating with a number of governmental authorities over the implementation of those projects.

The Egyptian ministry of electricity had earlier announced the launch of new projects for the private sector to generate 30,000 Megawatt in the next 10 years with investments estimated at US$ 45 billion. These major projects come in the notion of getting rid of the electricity cuts crisis occurred in Egypt during summer through the past 3 years.

Moreover, Al-Mahdi added that the government’s interest in carrying out renewable energy power projects and depending on the wind power represent the priors of the state’s targeted infrastructure projects  to attract more investors in the upcoming period.