Orascom Construction and IPIC collaborate to set up coal-fired power plant in Egypt

4 November 2014 (Last Updated November 4th, 2014 18:30)

Egyptian engineering and construction firm Orascom Construction plans to develop, construct and operate a coal-fired power plant in Egypt in collaboration with the International Petroleum Investment Company (IPIC).

Egyptian engineering and construction firm Orascom Construction plans to develop, construct and operate a coal-fired power plant in Egypt in collaboration with the International Petroleum Investment Company (IPIC).

The two firms intend to use advanced clean-coal technology for the proposed power plant, so that it complies with the emission control standards specified by the European Union. It is expected that the plant will generate up to 2,000 to 3,000MW of power.

The proposal awaits technical evaluation and governmental permissions. Project developments will take place on a fast-track basis near the El Hamarawein port on the Red Sea coast in Egypt, once approved.

Orascom Construction chief executive officer Osama Bishai and IPIC managing director Khadem Abdulla Al Qubaisi have met with Egyptian Prime Minister Ibrahim Mehlab for the proposed project.

"Growth in power generation is crucial to the sustained development of the Egyptian economy."

OCI NV chief executive officer Nassef Sawiris said: "Growth in power generation is crucial to the sustained development of the Egyptian economy. We are pleased that we, in partnership with IPIC, can contribute to this and believe that such joint efforts with IPIC lay a solid foundation for collaboration on future projects.

"This is also a strategic step in developing Orascom Construction’s infrastructure focus in Egypt and other key regional markets."

IPIC managing director Khadem Abdulla Al Qubaisi said: "As a company wholly owned by the government of Abu Dhabi and under the direction of Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE and Ruler of Abu Dhabi, IPIC is proud to play a role in assisting Egypt in meeting its current and future energy needs.

"IPIC and Orascom Construction’s cooperation in this project represents a combination of energy industry expertise, construction capability, and strong local presence in Egypt."

Energy