Electricity Ministry Delayed Al Nowais Plant

Electricity Ministry Delayed Al Nowais Plant

The Egyptian Ministry of Electricity and Renewable Energy delayed Oyoun Moussa power plant to 2022-2027 to be contracted by the Emirati Al Nowais Company, reported Daily News Egypt.

Sources at the Ministry of Electricity stated that the ministry has sent a memorandum to the cabinet, explaining the Al Nowais requests to sign the contract to build a coal fueled electricity power plant with a 2,640 MW capacity to be located in the area of Oyoun Moussa.

The Emirati Company’s officials along with the financing banks objected to several terms in the power plant contract, including arbitration in case of a dispute between the parties. Furthermore, Al Nowais has not agreed yet over signing a sovereign guarantee agreement with the Ministry of Finance.

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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