The latest deal is a significant step towards the development of Libya’s power sector.
UCC Holding Qatar and Al-Suwaidi Electric Egypt, two of the leading players in the power and energy industry, have recently signed a contract to execute a power plant project in Libya.
The project, which is set to be implemented in collaboration with the Libyan General Electricity Company, has a capacity of 1044 megawatts and is expected to provide a significant boost to Libya’s power sector.
The latest deal is valued at 1.19 billion euros, and it is set to be completed within a period of 26 months.
The power plant will be located in the North African country’s coastal region and will play a crucial role in meeting the growing demand for electricity in Libya.
It aims to provide a reliable source of electricity to households, businesses and industries across the country, boosting economic activity and improving the quality of life for the citizens.
The contract between UCC Holding Qatar, Al-Suwaidi Electric Egypt and the Libyan General Electricity Company is a significant milestone in the development of Libya’s power sector. It is set to create numerous job opportunities for the local population.
With the use of advanced technology and the latest equipment, the power plant is also set to become a model for efficiency and reliability in the region.
UCC Holding, which is ranked first in the Arab world and Africa and 105th globally according to ENR, is implementing this project as a part of its international expansion strategy.
The globally-operating company provides construction services across various industries, including infrastructure and heavy construction, buildings, marine works, as well as oil and gas.
Meanwhile, Elsewedy Electric Co S.A.E. is a multinational electrical company based in Egypt, which specialises in the manufacture and sale of a wide range of integrated energy products and services across seven energy segments.
The segments include electrical cables and accessories, electrical products, telecommunications, transformers, wind energy generation, energy measurement and management, procurement and contracting.
The company has two main offices in Libya, one in Tripoli – the capital and largest city – and the other in Benghazi, a coastal city.
With its presence in both the northwestern and eastern regions of the country, the company is able to distribute a complete range of products, including electrical, engineering, construction and digital solutions.