The Upper Egypt Electricity Production Company’s CEO, Ibrahim El Shahat, stated that the company will start receiving bids on five tenders for the 650MW Walidiya power plant, reported Al Mal News.
The tenders, which were postponed multiple times due to Egypt’s new VAT regulations, were related to the facility’s main tanker, project insurance, contracting civil work, and procuring transformers and pumps to be install at the plant. All tenders will conclude by the end of October, early November at the most. This round of bids brings the Walidiya power plant’s total to 10 tenders.
Furthermore, the project has secured foreign funds from Arab financing institutions. The OPEC Fund for International Development (OFID) has provided $55m, while the Arab Fund, Kuwait Fund for Arab Economic Development, and Islamic Development Bank (IDB) supplied $181.7m, $99.1m, and $220m respectively.
The Upper Egypt Electricity Production Company’s power output currently stands at 3350MW. The company’s geographical jurisdiction extends to thermal plants in Giza, Fayoum, Beni Suef, Assuit, Wadi El Gadid, Sohag, and Aswan.