{"id":644393,"date":"2024-09-25T00:00:00","date_gmt":"2024-09-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/25\/elsewedy-electric-partners-with-siemens-to-develop-usd-800-mn-power-plant-in-saudi-arabia\/"},"modified":"2024-09-25T00:00:00","modified_gmt":"2024-09-25T00:00:00","slug":"elsewedy-electric-partners-with-siemens-to-develop-usd-800-mn-power-plant-in-saudi-arabia","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/25\/elsewedy-electric-partners-with-siemens-to-develop-usd-800-mn-power-plant-in-saudi-arabia\/","title":{"rendered":"Elsewedy Electric partners with Siemens to develop USD 800 mn power plant in Saudi Arabia"},"content":{"rendered":"

Elsewedy Electric lines up another big-ticket project abroad: <\/strong>Elsewedy Electric is teaming up with Siemens to develop a USD 800 mn power plant in the Red Sea city of Rabigh in Saudi Arabia, an official Elsewedy reportedly told Al Arabiya<\/a>. <\/p>\n

The timeline:<\/strong> The project, which will include both steam and gas turbines, is reportedly in the construction phase and expected to be fully completed by the end of 2026. <\/p>\n

Elsewedy has other projects abroad in the works: <\/strong>The company expects to finish expansions<\/a> of one of its Saudi factories in January 2025, the Elsewedy source said, adding that the company is looking to expand its footprint abroad, particularly via investments in the GCC states. The company is also hoping to expand its volume of exports to the rest of Africa and Europe in the coming period.<\/p>\n

And on the domestic front: <\/strong>Elsewedy is currently working on developing its new industrial<\/a>zone<\/a> on the around two million square meters allotted to it in New Sixth of October City in May<\/a>, which the source told Al Arabiya could take up to three years to complete.<\/p>\n

Other prominent local companies are also heading to the kingdom in search of new <\/strong>projects:<\/strong> Egyptian construction and real estate players in particular are ramping up efforts to expand abroad<\/a> as domestic opportunities shrink, industry insiders recently told Enterprise. While local developers are looking almost everywhere, there seems to be a particular appetite for Saudi Arabia on the back of its large, well-regulated, and welcoming market, developers and contractors told us.<\/p>\n","protected":false},"excerpt":{"rendered":"

The move comes as more and more Egyptian firms bring their expertise to bear in the Saudi market<\/p>\n","protected":false},"author":1,"featured_media":644394,"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":[7207],"tags":[130,152,93,72,7111,91,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-644393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-construction","tag-elsewedy-electric","tag-energy","tag-enterpriseam","tag-infrastructure","tag-oil-and-gas","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"303233ad-70de-4be8-bf95-c130ebfa049b","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1937.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Elsewedy Electric partners with Siemens to develop USD 800 mn power plant in Saudi Arabia","related_issue":[644386],"teaser":"The move comes as more and more Egyptian firms bring their expertise to bear in the Saudi market","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.e53144cb-733b-48bc-a849-73fe3892af4d.mp3"},"yoast_head":"\nElsewedy Electric partners with Siemens to develop USD 800 mn power plant in Saudi Arabia - 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The 800 MW gas-fired open cycle power project is located in AI Aweer in\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":578870,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/17\/elsewedy-electric-to-build-300-mw-solar-station-in-saudi-arabia-enis-descalzi-sits-down-with-el-sisi\/","url_meta":{"origin":644393,"position":1},"title":"Elsewedy Electric to build 300 MW solar station in Saudi Arabia + Eni\u2019s Descalzi sits down with El Sisi","author":"enterpriseam admin","date":"17 January 2023","format":false,"excerpt":"Elsewedy Electric is upping its solar energy game: Elsewedy Electric for Transmission and Distribution, a subsidiary of Elsewedy Electric, signed a USD 176.1 mn turnkey contract to build a 300-MW solar power station for Saudi Arabia\u2019s Al Ghazala Energy, according to a statement(pdf) by the company. Elsewedy \u201cwill mainly focus\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/274.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599037,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/17\/elsewedy-electric-acquires-share-capital-of-four-greek-renewable-energy-companies-for-eur-55-mn\/","url_meta":{"origin":644393,"position":2},"title":"Elsewedy Electric acquires share capital of four Greek renewable energy companies for EUR 55 mn","author":"enterpriseam admin","date":"17 June 2019","format":false,"excerpt":"M&A WATCH- Elsewedy Electric looking to acquire four Greek renewable energy outfits in EUR 55 mn transaction: Elsewedy Electric has entered into a EUR 55 mn agreement to acquire three wind assets and one hydroelectric company from Greece\u2019s R.F. Energy. All four assets are in Greece, Elsewedy said in a\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/181.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":649789,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/elsewedy-in-talks-for-benban-solar-power-plant-loan-transformer-stations\/","url_meta":{"origin":644393,"position":3},"title":"Elsewedy in talks for Benban solar power plant loan, transformer stations","author":"enterpriseam admin","date":"8 March 2017","format":false,"excerpt":"Elsewedy Electric is in talks with financial institutions for a loan to fund its 50 MW solar power plant project in Benban as part of the feed-in tariff (FiT) program, according to a bourse filing. 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