Egypt signs $2.3 billion deal with ACWA Power for new gas-fired power plant

• 7 years ago (2018-11-02)
• David Flin

Gas 459 Middle East 365

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Egypt signed a deal on 1 November 2018 with ACWA Power of Saudi Arabia to build a power plant in southern Egypt involving an investment of $2.3 billion, according to a statement from Mohamed Shaker, the Egyptian electricity minister. He said that the plant, which will have a capacity of 2250 MW, will be built in Luxor province in southern Egypt. The facility is scheduled to be operational by 2023.

Abdel Fattah al-Sisi, President of Egypt, opened three new power stations in July, built at a total cost of $7 billion, as part of the country’s plans to deal with a shortage of power generation. Acute power shortages in the years following Egypt’s 2011 uprising led to frequent summer blackouts and cuts to industrial output.