CAIRO: President Abdel Fatah al-Sisi will meet Wednesday with Chief Executive Officer of German industrial giant Siemens Joe Kaeser to review the status of the company’s ongoing power plant projects, Youm7 reported.
The meeting comes a day before Siemens’s press conference, scheduled for Thursday, to announce the inauguration of the first phase of a combined-cycle power plant in Upper Egypt’s governorate of Beni Suef, according to a Sunday statement published on Siemens website.
Following Egypt Economic Development Conference (EEDC,) held in 2015, Siemens and the Egyptian government have reached firm agreements to build a 4.4 gigawatt combined-cycle power plant and install wind power capacity of 2 gigawatts.
According to the agreement, Siemens will be the contractor responsible for engineering, procurement and construction (EPC) for the plant.
“The 4.4 gigawatt power plant will be built in four modules, each consisting of two H-class gas turbines, two heat recovery steam generators, one steam turbine, and three generators. Siemens H-Class technology is matching Egypt’s requirements, combining high output with record-breaking levels of efficiency,” according to the statement.
Siemens agreed to reduce the profit margin of the project from $2.6 billion to $2.2 billion, according to a presidential statement during the EEDC.
During the past two years, Egypt and Siemens have reached agreements that are expected to increase the country’s power generation capacity by up to one third before 2020, according to a statement by Siemens in February 2015.
Under the agreements, Siemens will propose to build additional combined cycle-power plants with a capacity of up to 6.6 gigawatts and ten substations for reliable power supply.