Orascom Construction has agreed to undertake a US$420mn contract to convert existing simple power plants to combined cycle power plants
The recently-completed 1,000MW Assiut and 500MW West Damietta power plants in Egypt will be converted into combined cycle power plants, which will boost capacity by 50 per cent without any extra fuel intake.
Company chief executive Osama Bishai said, ?We are proud of our continued leadership in the development of Egypt?s power sector and are pleased to continue working on Assiut and West Damietta power plants following the milestones achieved at both sites. We look forward to further growth of our power business across our core markets as a contractor and a developer.?
Orascom Construction will carry out the engineering, procurement and construction of the combined cycle plants, as well as arrange finances for the deal.
In addition to working on the Egypt power project, Orascom is also building two of the largest power plants in the world along with Siemens and has entered a consortium with Abu Dhabi-based International Petroleum Investment Corporation to build a coal-fired plant with a capacity of up to 3,000MW.
