(Ecofin Agency) - The Egyptian government awards German Siemens an operation and maintenance contract for the three power plants under construction in the cities of Beni Suef, Borollos and the country's new administrative capital.

The EGP6 billion (over €287 million) contract is expected to be clinched by the end of the month, including a part payment of €165m. For the record, the company has already won a €4.1 billion contract to establish three power facilities with a combined capacity of 14,400 MW. The three plants would help Egypt save about €1 billion in fuel purchase, with efficiency of over 60%.

Let’s note that apart from this new agreement, the company obtained another €1.5 billion contract to maintain the gas turbines in the three stations.

Gwladys Johnson Akinocho