SEPCO III, a subsidiary of POWERCHINA, signed an engineering, procurement and construction (EPC) contract for the planned 2,389-megawatt Luxor Power Plant in Egypt last month, the company said in a press statement on its website.

The EPC contract for the combined cycle power plant was awarded by the project's Saudi-headquartered developer ACWA Power, the statement issued last week said.

The statement said the Luxor plant is SEPCO III's third power project in the Egyptian market after the Banha Combined Cycle Power Plant and the Giza North Power Plant.

The $2.2 billion Dairut-Luxor IPP (Independent Power Producer) project, located in Luxor governorate, would be developed under the Build-Own-Operate (BOO) scheme with a concession period of 25 years, according to project information posted on ACWA Power's website. The power plant, based on Combined Cycle Gas Turbine technology, would use natural gas and alternative liquid fuel, the website said. It said Egyptian Electricity Transmission Company (EETC) is the off-taker.

(Writing by Syed Ameen Kader; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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