Five companies, including a consortium, have submitted financial offers in a bid to implement civil engineering work for the West Cairo power plant that has a capacity of 650MW via 18 units, reported Al Borsa. The plant is schedule to start operations during fiscal year 2018/2019.
The companies include Hassan Allam Sons which offered EGP 1.098b, Petroject-Technic which offered EGP 1.165b, and Orascom with EGP 1.205b. Furthermore, Archirodon offered EGP 1.35b, while El-Mokawloon El-Arab offered EGP 1.598b.
Accordingly, the winning company has not been announced as the committee tasked with comparing proposals has not completed it review and decision making process.
Egypt has secured project funding from a number of international financial institutions, including the the Kuwait Fund that will finance around $99m, while the Arab Fund will finance around $198m. In addition, the Saudi Fund for Development will finance $100m, while the Islamic Development Bank will pay $222m. Furthermore, the National Bank of Egypt will pay EGP 1.2b and the Cairo Electricity Production Company, the project owner, will pay EGP 149m.