R&R advise Saudi’s FAS Energy in singing MOU with NUCA for Waste-to-Energy Station in East Cairo
R&R had the pleasure to support FAS Energy, an affiliate to Fawaz El Hokair Group, in drafting the MOU it signed with the New Urban Communities Authority (NUCA) to set up a waste-to-energy (WtE) facility in 10th of Ramadan City. The project will serve New Cairo, El Shorouk, Badr, Obour, and 10th of Ramadan cities.
According to the MOU, NUCA has committed to provid the needed information and facilities for FAS to conduct studies and build the station, of which it will have through a 25-year right-of-use asset agreement. Meanwhile, FAS will conduct technical, environmental, and financial studies on the project and submit its final offer within 90 days. After obtaining regulatory approvals, FAS will begin working on the project, in accordance with the agreement’s terms and conditions.
The agreement was signed by Sabri Asfour, FAS Energy General Manager, and Mazen Hassan, NUCA’s Vice President, in the presence of Minister of Housing Asem El Gazzar.
R&R has previously advised FAS in relation to its 50-MW Benban Solar Park in Aswan which was earlier opened this year with investments worth around $100 million.