The Egyptian Electricity Holding Company (EEHC) will ink an agreement with Recovered Energy, in July 2016, to invest $30m in increasing the efficiency of the Sixth of October Power Plant, wrote Enterprise.

Al Borsa News reported that Recovered Energy VP for the Middle East Division, Tarek Ghorab, stated that his company possesses the advanced technical expertise to deliver this project that will additionally increase the power plant’s total capacity by 50 MW. He added that Recovered Energy will issue its financial offer by mid-July 2016.

The Sixth of October Power Plant has an approximate total capacity of 600 MW and it is considered to be part of the 2012-2017 emergency plan for increasing electricity projects. The emergency plan has so far contributed in adding 10,000 MW to Egypt’s national electricity grid.

Ghorab also mentioned that Recovered Energy is currently awaiting a reply from EEHC concerning a proposal to increase the efficiency of three other production units at the Damietta power plant at a total cost of $35m in cooperation with three international banks.