The Egyptian Electricity Holding Company (EEHC) signed a contract with Doosan Group to supply a turbine, condensers, and generators to the Assiut power plant for $61.68m.
A source at the EEHC said that several other companies had presented their bids to the tender, before it was awarded to Doosan Group. These companies included Mitsubishi Hitachi Alliance, Toyota Tsusho, Siemens-Shanghai Electric Alliance, and Doosan Group.
Chairperson of the EEHC Gaber Desouki said that the contract extends over 39 months from the date it was awarded, noting that the project is due to begin by the end of 2019.
He explained that the project is composed of a steam turbine with a capacity of 650 MW, condensers, generators, and other facilities. The plant works through a steam boiler of supercritical pressures fuelled by natural gas and fuel oil. The output energy will be linked to the main station in Assiut with a voltage of 500 KV.
He pointed out that the project comes within the 2012-2017 five-year plan which aims to support the national electricity grid to meet the growing need for electricity and achieve development across different fields.
The Upper Egypt Electricity Production Company’s (UEEPC) CEO, Ibrahim El-Shahat, said that the total cost of the power plant amounts to EGP 5bn, noting that financing for the project was secured via loans from international financing bodies, in addition to UEEPC’s own resources.
Funders include the Arab Fund for Economic and Social Development, the Kuwait Fund for Arab Economic Development, the Islamic Development Bank, and the OPEC Fund for International Development (OFID). The UEEPC will self-finance $170m, roughly 23% of the total cost of the project.