Cairo – Mubasher: Orascom Construction (OC) said it has signed contracts to convert Assiut and West Damietta power plants in Egypt from simple to combined cycle.
OC’s share in this deal amounts to nearly $420m, according to a press statement.
Both power plants will be completed on an EPC + Finance basis whereby OC helps arrange a competitive financing package on behalf of the client.
OC said it has completed Assiut and West Damietta power plants in record timing in Q3 2015.
Both power plants are currently operational and have a combined capacity of 1,500 MW. Converting them into combined cycle is expected to increase capacity by approximately 50% with no additional fuel intake.
This will project solidify OC’s position as a leading power player in the region, as the group is currently building in Egypt the two largest power plants in the world with a capacity of 4,800 MW each, and in 2015 connected 2,000 MW to Egypt’s national grid at Assiut, West Damietta and 6th of October.
