A consortium including Elsewedy Electric (SWDY.CA) and Marubeni Corporation that signed a memorandum of understanding (MoU) with the Egyptian Electricity Holding Company (EETC) for a 4,000-MW coal-fired power plant project in March 2016 is set to complete the project’s feasibility study in December 2016 and present the financial and technical bids in early 2017, according to Ahmed Elsewedy, Elsewedy Electric CEO. The project will be built in two phases, each with a capacity of c2,000 MW and will be conducted under an EPC + finance scheme. It will be located on the Mediterranean coast, west of Marsa Matrouh and is planned to desalinate c360,000 m3/day of sea water, which may include port development and works related to import, handling and storage of coal shipments. Elsewedy Electric will be responsible for site preparation, levelling the civil construction and site utilities for the project.   ELsewedy Electric is also seeking finance for its recently-awarded 50-MW solar power plant in Aswan, negotiating with the IFC and EBRD for USD75mn loan, Ahmed Elsewedy added. The investment cost of the project is around USD100mn, and the company is targeting financial closure before end of this year. (Al Borsa, Al Mal)   Elsewedy Electric: EGP42.17 as of 29 May 2016, Rating: Buy, FV: EGP57.30 per share, MCap: USD1,061 million, SWDY EY / SWDY.CA