On March 2, 2016, Marubeni Corporation (“Marubeni”) and El Sewedy Electric Company S.A.E (“El Sewedy”) executed a Memorandum of Understanding (“MOU”) with Egyptian Electricity Holding Company (“EEHC”) in relation to a feasibility study of the construction of an ultra-supercritical coal-fired power plant in the Arab Republic of Egypt.

 

The Egyptian government has announced a policy to install approximately 12.5 GW worth of new coal-fired power plants by 2022 in order to diversify energy resources. Under this MOU, Marubeni and El Sewedy will conduct a feasibility study for constructing a high-efficiency ultra-supercritical coal-fired power plant in the West Mattrouh region.

 

Marubeni has a track record in engineering, procurement and construction (EPC) contracts of more than 100GW around the world, of which coal-fired power plant accounts for 40GMW. Marubeni is committed to contributing to the development of infrastructure in Egypt through its extensive experience and know-how.

 

<Description of EEHC>

Address : Abbassia, Nasr City, Cairo 15177, Egypt

Management : Eng. Gaber Desouki Moustafa (Chairman)

Establishment : 1976

Line of Business : Generation, transmission and distribution of electricity

 

<Description of El Sewedy>

Address : Plot 27, 1st District, 5th Settlement, New Cairo, Cairo 11835, Egypt

Management : Mr. Ahmed Elsewedy (Chief Executive Officer)

Establishment : 1938

Line of Business : Manufacture of electric equipment,
                           development and construction of power plants