Tharwa Investments has signed a memorandum of understanding (MOU) with the Egyptian Electricity Holding Company (EEHC) to build a 6000 MW coal-fired plant at a cost of $11 billion.

The signing of the deal follows several months of talks between Tharwa and the Egyptian government, and calls for the development of a clean coal power plant in two phases.

The proposed project would be the largest single-site coal-fired plant in the world. It would be financed by Tharwa and its subsidiary, the FourWinds Group of Companies.

Eng. Gaber Desouki Moustafa, Chairman of the Egypt Electricity Company, said that the project would be "one of the major steps to develop the power sector in Egypt". He added that the project would be executed "through EPC and finance as well as BOO and BOOT".

Sian Crampsie