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CGGC Signs Contract for the Egypt 500 MV PV Power Station Project
Date:2020-01-05 VisitCount: Font size:[ L M S ]

At the beginning of the new year, CGGC enjoys a happy start. On January 3, under the witness of the new Egyptian Ambassador to China, His Excellency Mohamed Elbadri, CGGC and Egypt Peacock Holding Company signed the EPC contract for Egypt 500 MW PV power station in Beijing. Chen Xiaohua, Chairman of CGGC attended the signing ceremony, Lyu Zexiang, Chairman of CGGC International, Li Pingli, Deputy President of CGGC International were also present.

Scene of contract-signing

The Egypt 500MW Distributed PV power station project is located in Cairo, the capital of Egypt, Hurghada City and other places, mainly including project design, procurement, construction, installation, debugging and commissioning. The completion of the project will provide sufficient power supply to the surrounding areas and inject new impetus for Egypt's energy restructuring as well as economic and social development.

Liu Huailiang, General Manager CGGC International and Ziad W.Aly, Founder & CEO of Peacock Holding Company signed the contract on behalf of both parties. This project is the second new energy EPC project in Egypt signed and implemented by CGGC after the 35.7 MW distributed PV power station project in Egypt; it is the latest achievement of CGGC to practice the green development concept and promote the high-quality "going global" of new energy business.

Scene of meeting

Before the signing ceremony, both parties held talks on deepening practical cooperation. Chen Xiaohua welcomed Ambassador Elbadri and Mr. Aly's visit to CGGC, and introduced the overall situation, global layout and diversified business pattern of CGGC. He said that after nearly 50 years of development, CGGC has developed into a multinational operating group with international competitiveness driven by contracting and investment with coordinated development at home and abroad. At present, the China-Egypt cooperation enjoys good momentum and broad prospects. CGGC is willing to give full play to the advantages of project construction and investment and financing, work with the Egyptian government and enterprises, take the opportunity of project construction, to continuously deepen strategic cooperation in Egypt's infrastructure construction, new energy and seawater desalination, so as to jointly write a new chapter of the China-Egypt cooperation.

Ambassador Elbadri introduced the political, economic and social development of Egypt. He said that China and Egypt are both countries with ancient civilizations, and the friendship between the two countries has a long history. With the concern and promotion of the leaders of the two countries, our bilateral relations have made great progress and fruitful achievements have been achieved in building the “Belt and Road” Initiative. Ambassador Elbadri expressed his admiration for the development achievements made by CGGC in recent years, and welcomed the extensive and in-depth participation of CGGC in Egypt’s energy infrastructure construction. The Egyptian government will provide strong support for the development of CGGC in Egypt.

Mr. Aly fully affirmed the innovation and dedication demonstrated by CGGC’s team in the process of project promotion. He said that the successful practice of the project will lay a solid foundation for the development of the two parties in Egypt, the Middle East and Africa, and he hope that the two parties will continue to strengthen all-round and multi-field cooperation and achieve common development.

Photo of both parties

Egypt is the third largest economy in Africa and the largest economy in north Africa. Thanks to its location as the transport hub of three continents, Egypt is committed to becoming an energy center in Africa, the Middle East and Europe. In recent years, the Egyptian government has actively improved the overall energy structure of the country and vigorously developed renewable energy, among which solar energy and wind power projects have broad prospects for development. According to the 2018 annual report released by Egypt's New Energy Agency, renewable energy in Egypt is expected to account for 42 percent of the country's total electricity generation by the end of 2035.

Ahmed Tayia, Counsellor at the Egyptian Embassy in China, Tamer Elkambashawy, Diplomat, Frodo Rao,  director of the Peacock Holding Company, and the heads of the International Department IV of CGGC International and the Egyptian branch participated in the event.

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