Budget shortfalls have forced the Electricity Ministry to withdraw a tender to hire an international consultancy to assist in the evaluation and management of the three Siemens power plants, Daily News Egypt reported. The Egyptian Electricity Transmission Company (EETC) had started talks with EDF Energy, which submitted an EUR 8 mn offer, but then decided to assign the management task to ministry experts. Parsons (EUR 15 mn), and RWE Group (EUR 16 mn) had also submitted offers. Siemens seems to be moving ahead of schedule on the plants, announcing in a Monday press release that it connected 10% more power to the national grid than what had been initially agreed upon.
More from Enterprise
Four foreign funds line up USD 256 mn for Banque du Caire
London’s Redwheel is among the backers, nearly two weeks after…
Inside the financing of Egypt’s IPP boom
The contracts and the resources are proven, so the open…
FRA issues model short-selling contract, with launch weeks away
Contract wording is settled; the launch now waits on the…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…