A consortium including Elsewedy Electric (SWDY.CA) and Marubeni Corporation signed a memorandum of understanding (MoU) with the Egyptian Electricity Holding Company (EETC) for a 4,000-MW coal fired power plant project. The project will be built over two phases, each with a capacity of c2,000MW and will be conducted under an EPC + finance scheme. The project will be located on the Mediterranean coast, west of Marsa Matrouh and is planned to desalinate c360,000 m3/day of sea water, which may include port development and works related to import, handling and storage of coal shipments. Elsewedy Electric will be responsible for site preparation, levelling the civil construction and site utilities for the project. (Company Disclosure)   Elsewedy Electric: EGP38.95 as of 02 March 2016, Rating: Buy, FV: EGP62.50 per share, MCap: USD1,111 million, SWDY EY / SWDY.CA