The energy sector in Egypt is booming like never before.
The world’s largest coal-fuelled power plant will be built outside the Red Sea port of Hamrawein, according to Global Construction Review.
It will be constructed by a Chinese consortium consisting of Dongfang Electric Corporation of Sichuan and Hassan Allam Construction of Egypt, after battling it out with 2 other conglomerates; General Electric in partnership with Harbin Electric of China, and a consortium which included Mitsubishi and Hitachi in partnership with ElSewedy Electric and Orascom Electric of Egypt.
Finally, Shanghai and Dongfang proposed the better deal, offering to build the plant for $4.4 billion, $800m less than General Electric and a whopping $1.8 billion less than the Japanese. Pocket change.
Currently, the largest power plant is in Taiwan, though the 6GW Egyptian plant will surpass its generating capacity by 500MW.
The Egyptian government is heavily invested in the energy sector; according to Egypt Today, German conglomerate Siemens is building 3 other massive power plants in the upper Egypt governorate of Beni-Suef, the new capital city, and Al Burlus, each capable of generating 4.8GW of power.
Main image from Weitz