Cairo – Mubasher: Egypt Kuwait Holding (EKH), listed on Boursa Kuwait and the Egyptian Exchange (EGX), on Sunday announced that its subsidiary, National Electric Technology Co, has started building an additional power plant at Borg El Arab with around EGP 550 million in investments.
The project aims to boost power capacity of National Electric’s plant to 115 megawatts from 75 megawatts, EKH added in a filing to the Egyptian Exchange (EGX).
The company is expected to complete these expansions in the first quarter of 2020, according to the filing.
In the same vein, the company noted that this project will be implemented after the completion of the first phase of a power plant at Borg El Arab with around EGP 460 million in investments.
EKH last said that one of its subsidiaries would build a factory for pressed wood production with EGP 2 billion in investments.
The factory will be established over two phases; the first at cost of EGP 1.1 billion ($61.4 million), whereas the second will be constructed with EGP 900 million ($50.2 million) in investments.
The project will be set up in the Upper Egypt governorate of Beni Suef, and construction is set for completion to begin the trial operation with a capacity of up to 150,000 cubic metres in the first half of 2020.
EKH has not mentioned the name of the unit implementing the project.