Sunday 18 March 2018

Siemens inks $825m Libya power project contracts

MUNICH, December 12, 2017

Siemens has signed contracts with the state-owned utility General Electricity Company of Libya (Gecol) to expand Libya’s power generation capacity by approximately 1.3 gigawatts (GW).

The agreements were signed in Berlin, Germany, in the presence of Fayez Mustafa Al Sarraj, chairman of the Presidential Council and Prime Minister of the Government of National Accord of Libya; Mohamed Taha Siala, the Libyan Minister for Foreign Affairs; and Sigmar Gabriel, Germany’s Vice Chancellor and Federal Minister of Foreign Affairs.

Under these contracts, Siemens will build a 650-MW open cycle power plant in Misrata, equipped with two F-class gas turbines, and a 690-MW open cycle power plant in Tripoli West, equipped with four E class gas turbines. The total volume of engineering, procurement and construction (EPC) contracts, including long-term service agreements, is in the range of 700 million euros ($825 million).

“Libya needs a reliable and affordable power supply to set the stage for a prosperous and promising future for the Libyan people,” said Joe Kaeser, president and CEO of Siemens.

“As a trusted partner, Siemens will provide Libya with innovative and sustainable infrastructure solutions that are essential for the economic development of the country and its people,” added Kaeser.

Siemens has been supporting Libya with technology and expertise since the 1950s. “Around 30 per cent of Libya’s installed power generation capacity is based on Siemens technology that delivers electricity for two million people,” said Willi Meixner, CEO of Siemens’ Power and Gas Division.

“After completion, the power plants in Misrata and Tripoli West will help the country to solve the ongoing challenges caused by frequent and unpredictable power cuts,” added Meixner. – TradeArabia News Service

Tags: Siemens | libya | power projects | Gecol |

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