NewswireToday - /newswire/ -
Paris, France, 2011/12/13 - On 12 December 2011, VINCI signed the contract for the design-build of the Assiut dam, in Egypt, with the Reservoirs and Grand Barrages Sector (RGBS), part of the Ministry of Water Resources and Irrigation - VINCI.com. CAC 40; Euronext 100
The works, valued at 266 million euros, will be carried out by a consortium composed, in equal parts, of VINCI Construction Grands Projets (leader), Arab Contractors and Orascom.
The works will start on 2 May 2012 and should take a little over 5 years to complete (64 months).
Located on the Nile, some 250 kilometres to the north of Luxor, the new Assiut dam will replace an existing dam, built early last century 400 metres further upstream.
This project aims to regulate the flow of the Nile, for irrigation purposes and for the production of electricity (32 MW, produced by four 8 MW turbines). It will have 2 locks, to allow through river navigation.
The project is being financed by KfW and the Egyptian government.
This new contract will add to the Group's numerous references for Egypt, where it has been present for over a century. After delivering the Aïn Sukhna rolling mill and the Naga Hammadi dam in 2008, VINCI Construction Grands Projets is currently working on phases 1 and 2 of Line 3 of the Cairo Metro, having already led the construction of Lines 1 and 2. The diversity of the projects carried out in Egypt clearly demonstrates the wide range of VINCI's expertise, and testifies to a long term relationship with the Egyptian authorities.