The Electricity Ministry is “close” to signing a contract with UAE’s Al Nowais to establish the USD 4 bn coal fired power plant in the Sinai,ministry sources told Al Borsa. The development comes following news that the ministry and Al Nowais were at an impasse over what the ministry then said was a “high” tariff on the power it will be selling. Al Nowais had apparently agreed to lower the price it will be charging the government, the source added.

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