RIYADH: Cash flow from the Julius Nyerere Dam project in Tanzania is expected to account for about 10 percent of Egypt Elsewedy Electric’s total revenue, Managing Director Ahmed Elsewedy said.
The $2.9 billion project is scheduled to be completed in 36 months, Elsewedy said during a visit to the project in Tanzania, Asharq reported.
The dam project on the Rufiji River in eastern Tanzania will contribute to supporting the country’s economy by creating jobs and developing industry that will benefit from the energy produced by the dam, he said.
The construction of Julius Nyerere Hydropower Station is being carried out by an Egyptian consortium of Arab Contractors and Elsewedy Electric. It is the largest contract for Egyptian companies in Africa, and is fully financed by Tanzania’s government, Elsewedy told Al Arabia.
The project’s 2,115 megawatt capacity will solve Tanzania’s electricity shortages, he said.
Elsewedy Electric has projects in 25 countries related to electricity generation, water desalination plants and hotels, representing 15 percent of the company’s business, said the CEO.
