The contract is worth $2.9bn and is financed through the direct funding of the Tanzanian government. The entire project will be executed under one integrated project management organisation with the responsibility of the joint venture, in which Elsewedy Electric holds 45%, and Arab Contractors holds 55%. The power plant will start producing energy by April 2022, with project completion expected within 36 months after a six-month mobilisation period, and it will have an installed capacity of 2,115MW, that is expected to more than double Tanzania’s power generation capacity. In 2017, the Tanzanian ministry of energy issued an international tender for the power plant, which is located approximately 200 km south west of Dar es Salaam, Tanzania’s commercial and administrative centre, where the signing ceremony was held on Wednesday. Ahmed El Sewedy, CEO of Elsewedy Electric said, “The Tanzanian People can count on the Egyptian joint venture.

Source: Daily News Egypt December 13, 2018 07:04 UTC