Elsewedy Electric, Orascom Construction, Mitsubishi Hitachi Power Systems consortium amongst three bidders to build Hamrawin power plant
Details of the three competing Hamrawin power plant bid have been release with Elsewedy Electric, Orascom Construction, and Mitsubishi Hitachi Power Systems consortium quoted USD7bn to build the plant and has generation costs at USD0.045/kWh. The other bidders include: i) Shanghai Electric, Dong Fang, Hassan Allam Construction consortium, quoting a price tag of USD4.4bn, with 27% of the costs to be paid in EGP to meet the EEHC’s domestic component requirements, which will charge USD0.054/kWh to generate power; and ii) GE: quoting USD5.8bn to develop the plan and is quoting a feed-in-tariff rate of USD0.07/KWh.
Elsewedy Electric: EGP148.55 as of 15 Feb. 2018, Rating: Buy, TP: EGP190.00/share, MCap: USD1,836mn, SWDY EY/SWDY.CA
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