LONDON (Thomson Financial) - Orascom Construction Industries SAE said it has won a 109 mln usd contract for the construction of a new 62 megawatt (MW) integrated solar combined cycle power plant in Kuraymat, Egypt from the New and Renewable Energy Authority, a subsidiary of the Egyptian Ministry of Electricity.
The contract involves all civil work in addition to two years' worth of operation and maintenance for the plant, Orascom said. The contract also includes the engineering, procurement, construction, testing and commissioning of the solar field and service area for the power plant.
The project will be co-financed by the Global Environment Facility, through the International Bank for Reconstruction and Development and by the Egyptian government through a loan provided by the National Bank of Egypt.
Orascom managing director Osama Bishai said the group will continue to bid on similar projects in the future. tf.TFN-Europe_newsdesk@thomson.com slm/pmi/ak COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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