Newspaper: Army signs $700mn deal with multinational consortium for power stations

The Armed Forces Armament Authority signed a contract with a three-party consortium for the establishment of six 970-megawatt power stations in the Ataqa region in Suez and Mahmoudiya in Beheira, Al-Mal, a financial newspaper, reported.
The deal with Siemens, Ansaldo Energia and ElSewedy Electric comes as part of the Electricity Ministry's emergency plan for 2015, the newspaper quoted ministry official sources as saying, noting that the ministry’s plan targets a total electricity production of 3,400 megawatts.
The estimated total cost for the six electricity units stands at nearly US$700 million (LE5 billion), funded by the Armament Authority.
Last week, Al-Mal noted, Orascom Group and General Electric were contracted for the establishment of eight 1000-megawatts units, also as part of the plan.

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