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Tuesday, 04 August 2020

Egypt approves $1.75bn maintenance deal with Siemens

Ahram Online , Thursday 20 Aug 2015
Saftey helmets are piled up for media representatives at the Siemens AG gas turbine factory hall in Berlin November 8, 2012. (Photo: Reuters)
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Egypt's cabinet approved on Wednesday the signing of a deal with Siemens for the maintenance of power plants the German company is building in the country at a cost of €1.572 billion ($1.75 billion).

The deal would last 12 years, or 66,000 operating hours, reported state-owned news agency MENA.

In May, Egypt's cabinet approved a deal between German Siemens and the state-owned electricity holding company to establish three power stations with a capacity of 14,400 megawatts.

The projects, which are worth €8 billion ($8.9 billion), include establishing and operating wind power stations with a power generating capacity of 2000 megawatts, according to MENA.

The German company will also establish a factory to make the blades used in wind farms with a capacity to produce 300 blades for 100 wind turbines to reach 340 megawatts annually.

During an economic development conference held in March earlier this year in Egypt's resort town of Sharm El-Sheikh, the industrial giant agreed with the Egyptian government to establish a wind power plant and a new wind rotor blade factory.

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