The countdown to the launch of Siemens’ fully commissioned power plants has officially begun. President Abdel Fattah El Sisi is expected to inaugurate the three fully-commissioned combined-cycle power plants in Burullus, Beni Suef, and the new administrative capital sometime next month, Siemens project manager Sherif Kotb said. All three stations are currently around 97% complete and will be fully operational with a combined production output of 14.4 GW by the time of the inauguration. The Egyptian Electricity Holding Company is currently in the process of selecting a company to manage the day-to-day operations of the three plants. The EEHC had announced in December it is in the process of setting up these companies and was originally planning to list all three on the EGX once the plants are up and running before year’s end as part of the state’s IPO program. However, the Electricity Ministry decided last month to push the IPO until after the state fully eliminates subsidies for electricity in FY2020-21. The power plants were not part of the 23 state companies the government named as candidates to list or sell additional stakes to the public.

Tags: