Egypt: Cairo plans power plant IPOs

Egyptian Electricity Holding Company (EEHC) has approved a restructuring plan under which 18GW of newly built or under construction gas-fired generation capacity will be hived off into separately managed subsidiaries and floated on the Egyptian Exchange in late 2017. EEHC has created four companies, one for the 3.6GW of emergency plants with GE turbines completed at Ataka, Mahmudiya, West Damietta, West Assiut, Hurghada and Sharm El-Sheikh during 2015, and others for each of the three 4.8GW power stations being built by the Siemens, Orascom and El-Sewedy Electric consortium at Beni Suef, Burullus and New Capital.