Back to the complete issue
Thursday, 26 December 2019

Egypt might be scrapping Shanghai Electric’s USD 4.4 bn “clean coal” power plant

INVESTMENT WATCH- Shanghai Electric’s USD 4.4 bn “clean coal” power plant could be scrapped or postponed: The Electricity Ministry is looking into potentially postponing or scrapping altogether the USD 4.4 bn, 6 GW-capacity “clean coal” power plant a Shanghai Electric-Hassan Allam-Dongfeng Electric consortium was set to construct in Hamrawein, unnamed sources tell the local press. According to the sources, the ministry sees no need for the plant at the current moment since there is already a surplus in Egypt’s energy production. The ministry is also mulling having the consortium mimic the UAE’s Al Nowais, whose USD 4 bn contract for another clean coal power plant was withdrawn in October. Al Nowais then bid on and was awarded contracts to construct 700 MW-worth of wind and solar power plants instead of the coal plant.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.