Mohamed shaker, Minister of Electricity discussed with President El-Sisi on Sunday, developments in the contract signed with Siemens, the German company to produce electricity. Al-Bawaba news reported. The ministry has succeeded to pay 2.8 billion Egyptian pounds, equivalent to 35% of the total amount of 11.7 billion Egyptian pounds. Total cost of the project is 6 billion euros. Minister of Electricity said, it was agreed with Siemens on the implementation of three stations, first one to be finalized in December 2016 with electrical capacity of 4400 MW, until completely finalizing three stations in May 2018, totaling 14400 MW. This massive production of energy will contribute to secure the needs of citizens and investors, especially in the development of the Suez Canal, and the accompanied industrial and services projects.
