Station located in Oyoun Musa area of South Sinai, with capacity of 2,650MW
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Company exempted from land ownership controls in Sinai
Three Chinese banks will finance the project, says Shanghai Electric Egypt director
CEO of Elsewedy Electric Group Ahmed Elsewedy said that his company signed a memorandum of understanding (MOU) with Marubeni in March to establish a coal-fired power station in western Matrouh governorate on the Mediterranean coast.
Construction company did not provide further details on combinations and transactions under discussion
Company says gas shortages have resulted in significant decline