Egypt and Siemens sign $10B power plant deals
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CAIRO:  Egyptian Minister of Electricity and Renewable Energy Mohamed Shaker signed Saturday deals worth  $10 billion with the German Minister for Economic Affairs and Energy Sigmar Gabriel and the Germany’s Siemens representatives Lisa Davis, according to a statement from the Egyptian Ministry of Electricity.

Both sides signed four memoranda of understanding to establish certain power plants to overcome the Egyptian electrify crisis and to create more job opportunities, the statement added.

According to one of the four memoranda, a combined power plant will be established in Beni Sueif (Upper Egypt) with capacity of 11.004 megawatts. The second memorandum includes establishing five other combined power plants in Noubarya of Beheira governorate (Delta), in Sedi Kirir in Alexandria, in Southern Cairo, in Qena (Upper Egypt), and in Kafr el-Dawwar with total of 6,600 megawatts.

According to the third memorandum, a large factory will be established to produce manufacturing tools for the wind plants, the statement added.

Under the fourth memorandum, another factory will be established to power transformer stations with different voltages.

The signing came on the sidelines of the three-day Egypt Economic Development Conference in Sharm el-Sheikh of South Sinai.

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