Cairo – Mubasher: Orascom Construction Ltd on Thursday said that it has completed power-to-grid for the four combined-cycle modules with a capacity of 4,800 megawatts (MW) each at Burullus Power Plant in Egypt.
Accordingly, the company has marked a great achievement for one of the largest gas-fired combined cycle power plants in the world, Orascom Construction said in a filing to the Egyptian Exchange (EGX).
It is noteworthy that Burullus Power Plant is the first among the three mega power plants in the North African nation to generate electricity with a capacity of 4800 MW.
The EGX-listed company is currently establishing power plants in Egypt with a total capacity of 11,250 MW, according to the filing.
The leading construction and engineering company is also building the New Capital Power Plant, which is one of the other three mega power projects in the Arab nation, in coordination with Germany-based Siemens.
The company had previously posted a net profit of $85.1 million for the full-year ended December 2017, versus $53 million in the year before.
The board had proposed the distribution of $30 million in cash dividends to shareholders for 2017.
Orascom Construction’s, listed on the Nasdaq Dubai exchange and the EGX, capital amounts to EGP 116.7 million distributed over 116.7 million shared at a par value of EGP 1 per share.
