Tomen and Mitsubishi Heavy Industries Win Cairo Electricity Production Company Order for Gas Turbine Generators to Build the Largest Combined Cycle Power Station in Egypt
2002-03-18
| The consortium of Tomen Corporation and Mitsubishi Heavy Industries, Ltd. (MHI) received an order from Cairo Electricity Production Company (CEPC) to supply gas turbine generators to build the Cairo North Power Station, a 750 MW combined cycle project. The three companies signed the contract, valued approximately US109 million, on March 16, 2002 in Cairo, Egypt. Dr. Hassan Younes, the Minister of Electricity and Energy, also attended the signing ceremony. | |  |
CEPC, a 100% subsidiary of Egyptian Electricity Holding Company of the Ministry of Electricity and Energy, is responsible for supplying electricity in Cairo area. CEPC plans to build the Cairo North Power Station, which will be the first large scale combined cycle power station in Egypt, to meet the increase in electricity demand in the area. The Arab Fund for Economic and Social Development and the European Investment Bank are providing loans for the construction.
| The Tomen-MHI consortium is supplying two units of 263 MW gas turbine generators and auxiliaries on a turn-key basis including their design, installation, test, start-up and commissioning, which will be completed in approximately 27 months (June 2004). Tomen-MHI participated in the international tender in October 2001, competing with European and U.S. suppliers, and was selected for its output capacity and efficiency of M701F type gas turbines. CEPC valued the reliability of the gas turbine's performance. | |  The signing ceremony |
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The government of Egypt has been developing gas combined cycle projects to build new power stations to utilize its abundant natural gas resources. A gas combined cycle power generation system uses its natural gas resources as its main source of fuel. The turbine's high efficiency in generating electricity enables the power stations to have low CO2 emissions and is important in reducing global warming.
Egypt, which has one of the world's largest sources of natural gas, has an aggressive plan to develop many natural gas related projects, including construction of gas pipelines to export natural gas to neighboring countries and Europe.
Tomen established its offices in Alexandria in 1933 and in Cairo in 1956, and has provided expertise in heavy machinery, energy plants, and industrial fields in Egypt. In 1982, Tomen established the joint venture company Alexandria National Iron and Steel Co. (ANSDK). Tomen has supplied substations (valued at more than US$400 million) with Mitsubishi Electric Corporation to the Egyptian Electricity Authority since 1983, and has supplied gantry cranes (valued at more than US$40 million) with MHI for container terminals in Egypt since 1999.
Commenting on the project, Tomen's president, Mr. Morihiko Tashiro, said, "Tomen takes pride in playing a key role in this type of major project that utilizes natural gas resources, outstanding technology and our expertise to create high value projects that are pro-environment."
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