Arab Today, arab today siemens signs €4bn power deal with egypt
Last Updated : GMT 20:05:56
Arab Today, arab today
Arab Today, arab today

To build 4.4 gigawatt cycle power plant

Siemens signs '€4bn' power deal with Egypt

Arab Today, arab today

Arab Today, arab today Siemens signs '€4bn' power deal with Egypt

Siemens will build a '4.4 gigawatt combined cycle power plant' in Egypt
Berlin - Arab Today

German conglomerate Siemens has signed a "four billion euro" power deal with Egypt, a company spokesperson said on Saturday.
Under a number of accords agreed between the parties, Siemens will build a "4.4 gigawatt combined cycle power plant and install wind power capacity of 2 gigawatt", the company added in a statement.
Other projects would include building a factory in Egypt "to manufacture rotor blades for wind turbines".
Under two further memorandums of understanding (MoU), Siemens will also propose to build additional "combined cycle power plants with a capacity of up to 6.6 gigawatts and ten substations for reliable power supply", the statement added.
The spokesperson told AFP the projects covered by the MoU would be worth a further six billion euros.
Siemens president and chief executive officer Joe Kaeser said the accords would supply Egypt with "a powerful and reliable energy system to support its long-term, sustainable economic development".
The agreements were signed at a global investor conference in the Egyptian resort of Sharm el-Sheikh by Kaeser and Germany's Vice Chancellor Sigmar Gabriel.
The conference is aimed at jump-starting the Egyptian economy after years of turmoil.
Foreign investment has plummeted since the 2011 uprising that ousted long-time president Hosni Mubarak.
Egyptian Housing Minister Mustafa Kamel Madbuli announced at the conference on Friday plans to build a new administrative and business capital east of Cairo that will house five million people and feature 90 square kilometres of solar farms, an electric train and a theme park "four times bigger than Disneyland".
The minister said the new centre would relieve pressure on overcrowded Cairo, with its population of 18 million which is expected to double in coming decades.
Parliament, presidential palaces, government ministries and foreign embassies would move to the new metropolis, the minister said, adding that the projects would be executed over the next five to seven years at a cost of $45 billion (42.9 billion euros).
Restoring the economy and attracting foreign investment have been key tenets of Abdel Fattah al-Sisi's presidency since he toppled Islamist president Mohamed Morsi in 2013.
Sisi, who has positioned himself as a bulwark against jihadists, added that investing in the Arab world's most populous country would help stabilise the entire region.
Egypt aims for 4.3 percent growth in 2015-2016, compared with two percent annually since the anti-Mubarak uprising, while also reducing the budget deficit and easing unemployment.
Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today siemens signs €4bn power deal with egypt Arab Today, arab today siemens signs €4bn power deal with egypt

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today siemens signs €4bn power deal with egypt Arab Today, arab today siemens signs €4bn power deal with egypt

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Ryanair's O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

Ryanair's O'Leary: Could ground more planes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Youssra prepares for launching her  program

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday