SINGAPORE – The 150,000 m3/day integrated water and power project being developed in Ain Sokhna, Egypt will now be developed on a BOT (Build-Operate-Transfer) and BOO (Build-Own-Operate) basis.
This follows a request from the General Authority for Suez Canal Economic Zone, which originally awarded Singapore firm Hyflux the contract on an engineering, procurement and construction basis (read story).
The change is not expected to have a material financial impact on Hyflux for the financial year ending 31 December 2017.
In a statement, Hyflux said it has identified partners to develop the US$500 million project and will continue to discuss the investment terms with SCZone.
As well as the desalination plant, an on-site 457 MW combined cycle gas turbine power plant will be constructed to generate power and supply electricity to the desalination plant, with excess power to be sent to the grid.