Orascom Construction headquarter in Nile city tower (Photo: Reuters)
Orascom Construction has completed the first phase of a power plant in the Upper Egyptian governorate Assiut; adding 375 megawatts (MW) to the nationwide electricity grid, announced the company in a press release Thursday.
The Assiut power plant is expected to generate 1,000 MW of electricity by the conclusion of its final phase, which will be delivered in July. The construction contractor is also contributing to another power plant project in Western Damietta with a capacity of 500 MW.
Egypt has been suffering from an energy crunch on the back of growing arrears to foreign oil firms as political turmoil took hold in the aftermath of a popular uprising in 2011. Parts of the national grid are also in need of renovation.
Orascom Construction Limited, which was formed in November as a subsidiary of the Netherlands based OCI, invests in infrastructure projects, including a 2,000-3,000 MW coal fired power plant in Egypt.