Continental Focus, International Reach

Egypt Considers Selling Power Plants

Thursday, May 30, 2019

According to Mohamed Shaker, Egypt’s Minister of Electricity, the government is considering selling three recently built power plants to private investors. Shaker, in a Reuters report, was quoted as saying that talks were still in the early stages.

“The negotiations are still in the early stages,” Shaker told Reuters by telephone. He declined to disclose further details.

The plants, billed at the time as the world’s biggest, were built by Siemens AG in a $6.7 billion deal signed in 2015 and inaugurated by Egyptian President Abdel Fattah al-Sisi in July.

Companies said to be interested in the plants include the Blackstone Group and Edra Power Holdings.