RIYADH: Egypt’s sovereign wealth fund is considering a $1.5 billion green powered desalination plant with UAE-based Metito Holdings Ltd, Scatec ASA, and Orascom Construction, Bloomberg reported.
This comes as the Middle Eastern country aims to curb projected water shortages as a result of the major hydropower dam that Ethiopia is filling on the main tributary.
The project is expected to follow a build, own, operate and transfer system, Bloomberg reported, citing Metito’s managing director for Africa, Karim Madwar.
The talks between Egypt and the three firms include a 400MW solar power plant as well as a desalination plant that is capable of processing from 1 to 2 million cubic meters on a daily basis.
The North African country is also considering floating mobile desalination plants.
Egypt has dedicated a total of $2.5 billion to construct over a dozen green powered plants by 2025.