The Electricity Ministry of Egypt will sign a deal with Kharafi Group of Kuwait to build two power pants in Egypt with a cumulative capacity of 1,000MW.
Egypt’s Electricity Ministry spokesman Aktham Abul Ela told Reuters that the deal could be signed next week.
The power plants, which will be built in Ismailia on the Suez Canal and Damietta on the Mediterranean coast, will have a capacity of 500MW each.
The combined cost of building the power plants is expected to be $645m.
Egypt has experienced repeated outages this year and has thus planned to invest $100bn-$120bn to expand its capacity from 25,000MW to 83,000MW by 2027.