GE Hints At $2bn-Plus Egypt Megadeal

GE has hinted at an ‘enormous’ North Africa power deal, similar to the $2.7bn one struck with Algeria in 2013. One country stands out as GE’s potential partner...

US electrical giant General Electric expects shortly to announce an “enormous” agreement in North Africa, which will be similar in size and scope to the $2.7bn of deals it signed in 2013 with Algeria. These involved supplying turbines for nine power plants and building a joint venture gas turbine manufacturing plant with state firm Sonelgaz. At the time GE described the Algeria deals as some of its largest ever contracts.

The equipment supply part of the agreement covered six new combined cycle gas turbine plants, a new open cycle plant and two mobile power capacity projects, which will reach full capacity in 2017. Meanwhile, Sonelgaz (51%) and GE (49%) are building a factory at Ain Yagout, which will start production in 2017 with capacity to build six to eight turbines a year (MEES, 27 September 2013). (CONTINUED - 793 WORDS)

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table Egypt Power Projects/Proposals