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Wednesday, 31 July 2019

Fas Energy to invest USD 500 mn in waste energy plant

INVESTMENT WATCH- Fas Energy to invest USD 500 mn in waste energy plant: Saudi-based Fas Energy is planning to invest USD 500 mn to construct a waste-to-energy plant in 10th of Ramadan City under an MoU with the New Urban Communities Authority (NUCA), according to a company statement Mubasher picked up. The plant’s capacity will be 100 MW and will serve new communities east of Cairo. NUCA’s MoU with Fas, a subsidiary of Saudi Al Hokair, was signed earlier this week. Fas completed a solar power plant in Benban last year.

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