(MENAFN- Daily News Egypt) class="p1">The Egyptian Electricity Holding Company (EEHC) opened bids for the operation and maintenance of New Administrative Capital, Borollos, and Beni Suef power plants implemented by the German company Siemens.
According to the EEHC, Korea's Doosan offered the lowest bid, followed by Germany's Siemens. Other bids were excluded for their high financial offer. The EEHC will choose between the German and Korean companies to sign the project's contract with.
The bidding alliances included Orascom-ADERA Energy consortium, Elsewedy-EDF consortium, Triangle-GD France consortium, Germany's STEAG GmbH, and Japan's Mitsubishi.
An official from the EEHC said that the evaluation of the bids was conducted at the highest degree of transparency and credibility, stressing that Siemens' participation in the tender does not mean that it would be given preference over other companies or alliances in being responsible for establishing the plants.
He added that the selection of the winning company to carry out the maintenance and operation of the plants is expected within two weeks, while the contracts are set to be signed by the end of next month.
The EEHC had invited four companies to present their technical and financial offers for the operation and maintenance of the three power plants. After studying the offers, the EEHC identified the technical specifications and suitable prices for the maintenance and operation of the power plants.
The EEHC signed contracts with Siemens last year to implement the three combined-cycle power plants with a total capacity of 14,400 MW. Siemens is implementing the three projects through the EPC+Finance scheme, while the EEHC will repay the loan over several years.
Three banks, KfW Development Bank, HSBC, and Deutsche Bank, secured funding for Siemens' projects in Egypt, amounting to €4.1bn of a total contract value of €6bn. Arab banks secured the remaining funding in Egyptian pounds to pay the Egyptian companies participating in constructions, including Elsewedy Electric and Orascom.
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