{"id":585284,"date":"2023-04-13T00:00:00","date_gmt":"2023-04-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/13\/elsewedy-electric-qatars-ucc-sign-to-build-libyan-power-plant\/"},"modified":"2023-04-13T00:00:00","modified_gmt":"2023-04-13T00:00:00","slug":"elsewedy-electric-qatars-ucc-sign-to-build-libyan-power-plant","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/13\/elsewedy-electric-qatars-ucc-sign-to-build-libyan-power-plant\/","title":{"rendered":"Elsewedy Electric, Qatar\u2019s UCC sign to build Libyan power plant"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">INFRASTRUCTURE-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Elsewedy partners with Qatari contractor on Libya power plant: <\/span><span style=\"\">Elsewedy Electric <\/span><span>and major Qatari contractor UCC Holding have signed an EPC contract with the Libyan General Electricity Company (GECOL) to build a 1.0k MW power plant in Libya, Elsewedy said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/Elsweedy%20-%20Libyan%20PP_548.pdf\" style=\"\">a bourse disclosure (pdf)<\/a><\/span><span> yesterday. The EGX-listed company said the contract is worth EUR 800 mn while UCC parent Power International Holdings<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/company\/powerholdingqatar\/posts\/?feedView=all\" style=\"\">put the figure at EUR 1.19 bn<\/a><\/span><span>.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">About the plant:<\/span><span> Located in <\/span><span style=\"font-weight:400;\">Zliten on Libya\u2019s north coast, the simple-cycle plant will feature six SGT5-2000E gas turbines. The plant is expected to start operations at the end of 2024 and reach full operation by mid-2025, according to the statement.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">INVESTMENT-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EBRD will pour USD 20 mn into a second TCV fund: <\/span><span style=\"\">The European Bank for <\/span><span>Reconstruction and Development (EBRD) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/49874.html\" style=\"\">will invest some USD 20 m<\/a><\/span><span style=\"font-weight:400;\">n in Tanmiya Capital Ventures Fund II, a second mid-cap fund from private equity firm Tanmiya Capital Ventures (TCV) that the EBRD says will be worth USD 150 mn in total. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Tanmiya\u2019s second fund? <\/span><span>This is the first we\u2019re hearing of TCV\u2019s second fund. The PE firm reportedly <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad226812-218c-4623-88a5-c11fe001a78d\" style=\"\">said last month<\/a><\/span><span style=\"font-weight:400;\"> that it will spend USD 30 mn to add two unnamed food companies to its portfolio this year, using finance from existing shareholders. Its current portfolio contains Abu Auf, Hassan Allam Utilities, Mifad, Plant Form and Tamweel Holding.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">COMMODITIES-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Gov\u2019t to pay nearly 75% more y-o-y for local wheat: <\/span><span style=\"\">The Madbouly government will <\/span><span>pay farmers EGP 1.5k per ardeb of wheat this harvest season, which kicks off this month, after <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3GyCWnd\" style=\"\">cabinet approved<\/a><\/span><span> the move. The price is 20% higher than the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/19\/pm-madbouly-talks-all-things-econ-as-cabinet-approves-subsidized-loans-to-industry-bumps-state-wheat-procurement-price-93960\/\" style=\"\">EGP 1.25k cabinet had set<\/a><\/span><span style=\"font-weight:400;\">in January and nearly 75% more than the EGP 865-885 per ardeb it paid last harvest season. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER- <\/span><span>The government is hoping to buy <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/991426a8-1f58-441f-8d4e-4e5e151fdfb5\" style=\"\">some 4 mn tons<\/a><\/span><span style=\"font-weight:400;\">of local wheat during this harvest season, slightly down from the 4.2 mn tons it had purchased last year. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">REAL ESTATE- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Selling land for USD: <\/span><span style=\"\">In its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/43tGeC8\" style=\"\">weekly meeting<\/a><\/span><span style=\"\"> yesterday, the Madbouly cabinet reviewed <\/span><span>a decision by the New Urban Communities Authority to sell two plots of land in New Cairo to an unnamed foreign firm for an unspecified price in USD. NUCA has received \u201c<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c727a04-22a0-4cb2-84ab-fab3dc99b1d1\" style=\"\">many requests<\/a><\/span><span style=\"font-weight:400;\"> by Arab and foreign investors\u201d to pay for state-owned land in USD, officials have said, as part of various initiatives to drum up hard currency amid a persistent shortage. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The contract is worth at least EUR 800 mn<\/p>\n","protected":false},"author":1,"featured_media":585285,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,317,130,152,93,72,2234,7111,125,879,83,6996,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-585284","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-commodities","tag-construction","tag-elsewedy-electric","tag-energy","tag-enterpriseam","tag-foreign-exchange","tag-infrastructure","tag-investment-watch","tag-new-urban-communities-authority","tag-real-estate","tag-ucc-holding","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"9f49d93c-1116-47f2-ab65-178beb953104","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/597.jpg","photo_position":"below","homepage_title":"","full_issue_title":"Elsewedy Electric, Qatar\u2019s UCC sign to build Libyan power plant. PLUS: EBRD commits USD 20 mn to TCV\u2019s second fund + Gov\u2019t to pay more for local wheat + Land-for-FX in New Cairo","related_issue":[585267],"teaser":"The contract is worth at least EUR 800 mn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.3ce3a219-41c7-47b1-bee1-2224e481f271.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Elsewedy Electric, Qatar\u2019s UCC sign to build Libyan power plant - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/13\/elsewedy-electric-qatars-ucc-sign-to-build-libyan-power-plant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elsewedy Electric, Qatar\u2019s UCC sign to build Libyan power plant\" \/>\n<meta property=\"og:description\" content=\"The contract is worth at least EUR 800 mn\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/13\/elsewedy-electric-qatars-ucc-sign-to-build-libyan-power-plant\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-13T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/597.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/13\/elsewedy-electric-qatars-ucc-sign-to-build-libyan-power-plant\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/13\/elsewedy-electric-qatars-ucc-sign-to-build-libyan-power-plant\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Elsewedy Electric, Qatar\u2019s UCC sign to build Libyan power plant\",\"datePublished\":\"2023-04-13T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/13\/elsewedy-electric-qatars-ucc-sign-to-build-libyan-power-plant\/\"},\"wordCount\":405,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/13\/elsewedy-electric-qatars-ucc-sign-to-build-libyan-power-plant\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/597.jpg?fit=%2C&ssl=1\",\"keywords\":[\"ALSO ON OUR RADAR\",\"commodities\",\"construction\",\"Elsewedy Electric\",\"energy\",\"EnterpriseAM\",\"foreign exchange\",\"infrastructure\",\"investment watch\",\"New Urban Communities Authority\",\"real estate\",\"UCC Holding\",\"wheat\"],\"articleSection\":[\"Also on our Radar\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/13\/elsewedy-electric-qatars-ucc-sign-to-build-libyan-power-plant\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/13\/elsewedy-electric-qatars-ucc-sign-to-build-libyan-power-plant\/\",\"name\":\"Elsewedy Electric, Qatar\u2019s UCC sign to build Libyan power plant - 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