Egypt signs deal with Saudi ACWA Power for $2.3 billion power plant — minister

The Sun sets behind high-voltage power lines and electricity pylons at a highway northeast of Cairo, Egypt, September 15, 2018. (Reuters)
Updated 01 November 2018
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Egypt signs deal with Saudi ACWA Power for $2.3 billion power plant — minister

  • The Egyptian electricity minister said the plant will have capacity of 2,250 megawatts (MW)
  • It would be built in Luxor province in southern Egypt

CAIRO: Egypt’s Ministry of Electricity has signed a deal with Saudi Arabia’s ACWA Power to build a power plant in southern Egypt involving investment of $2.3 billion.

Reuters News Agency quoted the Egyptian electricity minister as saying that the plant will have capacity of 2,250 megawatts (MW).

Speaking at a news conference Thursday, the minister said it would be built in Luxor province in southern Egypt.


Iraq cuts oil exports in line with OPEC deal: minister

Updated 20 March 2019
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Iraq cuts oil exports in line with OPEC deal: minister

  • An OPEC meeting in Vienna in April would assess member states’ compliance with agreed production cuts
BAGHDAD, March 14 : Iraq has cut its oil exports average to 3.5 million barrels per day in compliance with an ongoing production curb agreement, its oil minister said on Thursday.
Thamer Ghadhban told reporters an OPEC meeting in Vienna in April would assess member states’ compliance with agreed production cuts and whether to extend the curbs until the end of the year.
Iraq is committed to the deal and working to stabilize markets, he said. (Reporting by Ahmed Rasheed; Writing by John Davison; Editing by Mark Potter)