Daily News Egypt

Egypt's OCI forms JV for nuclear power projects - Daily News Egypt

Advertising Area




Advertising Area



Egypt’s OCI forms JV for nuclear power projects

CAIRO: Orascom Construction Industries , Egypt’s biggest listed builder, said on Sunday it had formed a joint venture with state-owned Arab Contractors to bid on nuclear power projects in the Middle East. Orascom said in a statement that the joint venture will bid on Egypt’s first nuclear power plant, planned to be located in Dabaa …


CAIRO: Orascom Construction Industries , Egypt’s biggest listed builder, said on Sunday it had formed a joint venture with state-owned Arab Contractors to bid on nuclear power projects in the Middle East.

Orascom said in a statement that the joint venture will bid on Egypt’s first nuclear power plant, planned to be located in Dabaa on the country’s Mediterranean coast, in February.

The companies aim to take advantage of growing interest in nuclear power projects across the region. OCI has already formed a joint venture with US bank Morgan Stanley to invest in Middle East infrastructure projects.

OCI’s venture with Arab Contractors "aims to benefit from these recently announced regional investment programs in the nuclear power sector", the companies said in a statement.

Egypt plans to build four nuclear plants as it seeks to boost its current installed power capacity of around 23,500 MW by an additional 58,000 MW by 2027.

The country suffered intermittent power cuts last summer as the system struggled to meet fast-growing demand.

Advertising Area

Advertising Area



https://www.dailynewsegypt.com/2011/01/17/egypts-oci-forms-jv-for-nuclear-power-projects/
Breaking News

No current breaking news

Subscribe to the Newsletter List Subscribe by clicking on the Subscribe
Subscribe
Daily News Egypt Android App Available for free download on Google play
View
Daily News Egypt Ios App Available for free download on APP Store
View