Egypt is considering Offers from two International firm to acquire Three Power Plant.

Egypt are considering bids from two Energy firms for the purchase of three power plant. The bids which was submitted by Zarou and Malaysian company Edra Energy.

Meanwhile,  Siemens will also form a partnership with the winner of the contract. This will help reduce debt and attract foreign investment to Egypt.

Minister for Electricity Mohamed Shaker said the two companies reveal their interest in the state-owned stations. While, Egypt is already considering the purchase offers.

Shaker further said that if the deal is accomplish, a purchase agreement will be approve with either Edra or Zarou. Which will make the buyer to sell the electricity to the government. Likewise, working alongside with Siemens in managing the power stations.

#AMAY | Egypt considers international bids to purchase 3 power plantshttps://t.co/p7ciU1sX1K

— Egypt Independent (@EgyIndependent) May 28, 2019

Official Spokesman for Ministry of Electricity, Ayman Hamza said that no decision is taking yet on the offers that is raises by international companies. 

Siemens Egypt, operators of power plants said that the power purchase agreements between utility companies and private plant management companies were globally common.

Shaker also said “We are looking at the offers from two companies. The cost of the three stations is about six billion euros.”

He also said that the project will get its fund from an alliance led by Germany’s Deutsche Bank, and HSBC,”

Click on the floating icon on the right to subscribe. More so, please share, Follow us on Twitter and don’t forget to also like us on Facebook. Read more on Egypt