Monday, March 06, 2006

10 percent of Egypt's electricity Production Goes to Malaysia

France's EDF said on Friday it had finalised the sale of two power stations in Egypt to Malaysia's Tanjong Energy for $307 million as the French power giant narrows its focus on Europe.

EDF said in a statement that it was selling the fully owned electricity stations to Tanjong Energy after entering into exclusive negotiations in July, and signing an agreement to sell in November.

The gaz-powered stations, with a capacity of 1,366 megawatts, account for about 10 percent of Egypt's total electricity production.

Though it is Egypt's electricity, the story does not mention any Egyptian officials involved. It is a bit weird. My understanding that Egypt's government controls everything. Did they give up their role?

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