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Egyptian cement company Titan Egypt has signed a 25-year power purchase agreement (PPA) with SolarizEgypt for the development of an 11.45-megawatt (MW) solar photovoltaic plant at Beni Suef Cement Company, one of the group's subsidiaries.
SolarizEgypt will handle the development, financing, construction, ownership, operation, and maintenance of the plant, which is expected to meet a significant portion of the cement producer's electricity requirements, the two companies confirmed in a joint statement on Sunday.
Cost and project timelines weren't disclosed.
Titan Egypt is subsidiary of international cement and building materials producer Titan Group, which in turn is owned by Belgium-based Titan SA. The company operates two cement plants, Beni Suef Cement in Beni Suef Governorate and Alexandria Portland Cement in Alexandria Governorate, four ready-mix units, in Giza and Damietta, and one aggregate plant, in Suez Governorate.
(Writing by Eman Hamed; Editing by Anoop Menon)
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