ACWA Power to Pay $90 M in Natural Gas Pipeline Construction

ACWA Power to Pay $90 M in Natural Gas Pipeline Construction

ACWA Power and the Ministry of Petroleum and Mineral Resources agreed to pay $90 million to deliver natural gas through a pipeline connected to the company’s electric power plant in Luxor, Al Borsa News reported.

The company will thus cover half the cost required to establish the $180 million pipeline which aims to develop the whole area.

The electric power plant is set to be established in Luxor with production capacity of 2,250 MegaWatt (MW).

ACWA Power had signed an agreement with the Egyptian Electricity Transmission Company (EETC) to buy electricity at a price of $0.018 per kilowatt hour (kWh).

Sarah Samir 2901 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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