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Thursday, 31 January 2019

Al Nowais, EETC to sign power plant agreement in 1Q2019

INVESTMENT WATCH- Al Nowais, EETC to sign coal power plant agreement in 1Q2019: Al Nowais will sign a contract with the Egyptian Electricity Transmission Company (EETC) for the proposed USD 4 bn Oyoun Moussa coal-fired power plant in 1Q2019, Chairman Hussain Al Nowais told Zawya. The head of the Emirati investment group said that the company will construct the 2.65 GW facility in three phases over the next four years, with the first phase generating 1.32 GW of electricity. Al Nowais is putting up 70% of the capital for the project. The company is talking to backers in Singapore, South Korea, China and Egypt to fund the remaining 30%.

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