Egypt approves $1.75bn maintenance deal with Siemens

Egypt's cabinet approved on Wednesday the signing of a deal with Siemens for the maintenance of power plants the German company is building in the country at a cost of €1.572 billion ($1.75 billion).

The deal would last 12 years, or 66,000 operating hours, reported state-owned news agency MENA.

In May, Egypt's cabinet approved a deal between German Siemens and the state-owned electricity holding company to establish three power stations with a capacity of 14,400 megawatts.

The projects, which are worth €8 billion ($8.9 billion), include establishing and operating wind power stations with a power generating capacity of 2000 megawatts, according to MENA.

The German company will also establish a factory to make the blades used in wind farms with a capacity to produce 300 blades for 100 wind turbines to reach 340 megawatts annually.