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Saudi Fas Energy plans to launch $300m WtE projects in Egypt - Daily News Egypt

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Saudi Fas Energy plans to launch $300m WtE projects in Egypt

New plants to be implemented over five phases; the first costs $60m


Saudi Fas Energy plans to launch new waste-to-energy (WtE) plants in Egypt with total investments of $300m.

The new plants to be implemented over five phases, of which the first phase will cost $60m. The capacity of the first plant will be 20MW and the projects’ production will be sold to the Egyptian Electricity Transmission Company (EETC), Sabri Asfour, CEO of Fas Energy, told Daily News Egypt.

Fas Energy has strategic partnerships and a large expertise of over 25 years in waste recycling and energy production. The company will design, construct, install, manage, and maintain the proposed WtE plants, he added.

Earlier, Fas Energy signed a memorandum of understanding (MoU) with the New and Urban Communities Authority (NUCA) to set up a WtE plant in the 10th of Ramadan City that will serve new cities in East Cairo, including New Cairo, Shorouk, Badr, and Obour.

The new projects come in line with the state’s comprehensive development plan in new cities.

In accordance with the MoU, the NUCA will allocate the land required for the projects, provided that the land is connected to the national electricity grid and has access to water or sanitation facilities and other services necessary for the establishment of the projects.

The NUCA will sign a concession agreement with Fas Energy that gives the company the right to use the land of the projects for 25 years. The company needs to obtain approvals and permits from the Ministry of Electricity, the Egyptian Electricity Utility & Consumer Protection Regulatory Agency (EgyptERA), and the New and Renewable Energy Authority.

According to the MoU, Fas Energy will prepare the technical, environmental, and financial studies necessary to establish the project at its own expense.

In case of acceptance of the technical and financial offer, Fas Energy will establish a company with a legal entity in Egypt to conclude the necessary contracts. The company will also design, construct, install, manage, and maintain the production station at its own expense, and pay the bills for the consumption of all facilities.

Also, the company may not waive any of its rights or obligations without the written consent of the NUCA. The Company shall, after 25 years from the date of actual production, deliver the production plant to the NUCA free of charge, unless the contract is renewed.

https://dailyfeed.dailynewsegypt.com/2019/07/24/saudi-fas-energy-plans-to-launch-300m-wte-projects-in-egypt/
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