Orascom Seeks Compensation for Power Plant Damages, Mal Reports

Orascom Construction Industries (OCIC) is seeking compensation for damages incurred when a power plant it is building was attacked by village residents and equipment was set ablaze, Al Mal reported, citing Ali Hassan, chairman of the Cairo Electricity Production Co.

Hassan said initial damage to the North Giza plant was appraised at 40 million Egyptian pounds ($6.6 million), the Cairo-based newspaper reported.

To contact the reporter on this story: Ola Galal in Cairo at ogalal@bloomberg.net.

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net.

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