The Electricity Ministry has reached an agreement with ACWA Power to establish a USD 2.2 bn, 2.25 GW power plant in Luxor, unnamed ministry sources tell Al Borsa. The plant was originally planned for Dairut, Beheira, but was moved to Luxor to increase energy production in Upper Egypt. Cabinet had granted the Saudi company a government guarantee last week for the construction of the plant on a right-to-use basis for 25 years.

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