Egypt and Mitsubishi Sign Deal for Turbines

Sunday, August 13, 2017

Egypt and Mitsubishi Hitachi Power Systems signed an agreement that will have Mitsubishi developing two gas turbines for the North Cairo Power Station. The contract is worth $109.1 million.

Financing for the deal was secured through Japan’s Official Development Assistance (ODA). The loan, which has a 10-year grace period, will be repaid over 40 years.

The project is to assist the Egyptian government boost the country’s energy efficiency and decrease greenhouse-gas emissions.

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