Vinci team clinches Naga Hammadi contract

24 May 2002

After a retender and several rounds of intensive contract negotiations, the main contract in the Naga Hammadi barrage and hydroelectric plant project has been awarded to a team of France's Vinci, Germany's Bilfinger & Bergerand the local Orascom Construction Industries.

The contract, for civil works, is valued at Eur 113 million ($103 million), plus £E 445 million ($96 million). The client is the grand barrages section of the Irrigation & Water Resources Ministry.

Germany's Kreditanstalt fuer Wieder- aufbau has agreed to lend DM 242 million ($110 million) for the project, and a further Eur 75 million ($68 million) has been pledged by the European Investment Bank.

The award means that all four contracts on the project have now been let.

On lot 2, for hydromechanical equipment, the winning contractor is DSD Dillinger Stahlbauof Germany, with a total price of Eur 26.7 million ($24.2 million) plus £E 5.6 million ($1.3 million). The client is the same as for lot 1.

Lots 3 and 4 both relate to the 64-MW hydroelectric plant to be built as part of the barrage, and the client is the Egyptian Electricity Holding Company. Austria's VA Tech Hydro, in joint venture with its German affiliate, VA Tech Escher Wyss, has signed the lot 3 contract for Eur 53.5 million ($48.6 million) plus £E 17.5 million ($4.1 million). It calls for the supply and installation of bulb turbines and generators. VA Tech Hydro has also signed the lot 4 contract, covering the electrical equipment, with a total price of Eur 12.6 million ($11.5 million) plus £E 12.9 million ($3 million).

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