Romanian company to build gas plant in Egypt

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Romanian company Romelectro will be consortium leader together with two other local companies, for building a gas plant of 1,200 MW in Egypt, the contract value is approximately EUR 30 million, Cristian Secoșan, general manager of Romelectro announced.

“200 of about 1,000 people involved in this project are Romanians. The works will start in late September and will end in August next year,” Romelectro official pointed out during a press meeting.

The gas plant built by the Romanian company will be located on the Mediterranean Sea, 100 kilometers east of Alexandria, and will use gas from offshore fields.

Secoşan stated that Egypt has an extremely ambitious plan to increase the electricity generation capacities, thus covering the growing consumption.

“Currently, Egypt has an installed capacity of 30,000 MW for energy production and plans to build 12 gas groups of 1,200 MW each. Moreover, the country estimates another coal plant of 4,600 MW and 5,000 MW – solar energy and other renewable sources,” Secoşan added.

By comparison, Romania has an installed capacity of about 20,000 MW, but the domestic consumption is under 10,000 MW.

Also Romelectro is favorite in the race to win a contract financed by the EBRD for carrying out electrical lines in Kosovo. Moreover, the company established a subsidiary – Romelectro Arabia – in Saudi Arabia, together with a local partner, the goal is winning contracts for implementing lines and power stations.

“We want to expand from Saudi Arabia in surrounding Arab countries such as Qatar, UAE and Kuwait”, Romelectro official said. He showed that the only solution, at this time, for the company is to export, while the Romanian market is going through a period without contracts.

According to Secoşan, last year, Romelectro had a turnover of EUR 50 million and losses of around EUR 1 million.

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