Siemens gets $2 bln for Egypt plant
Egypt 
CAIRO, November 23, 2015 – Siemens has secured a first tranche of funds for a series of gas-fired power plants it will build in Egypt.
In June, the German company inked a deal with the Egyptian government to build the Beni Suef combined-cycle plant, along with two other gas-steam power plants.
Siemens described the order, worth €8 billion, as its largest ever.
The first plant is expected to begin operations in 2016 and reach full production by April 2018.
A Siemens spokesman said on Monday that a consortium of banks would provide financing for the plants. A total of $2 billion in funding has been secured in an initial two agreements.
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