By Pietro Lombardi 
 

Siemens AG (SIE.XE) will operate and maintain three combined-cycle power plants in Egypt for the next eight years, the company said Thursday.

Under the agreement, the Egyptian Electricity Holding Company selected Siemens to provide its services for the Beni Suef, New Capital and Burullus power plants.

"Together the plants represent approximately 40% of Egypt's power capacity, at the time of signing contracts, generating 14.4GW--enough to supply 40 million Egyptians with electricity," the company said in a statement.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

September 20, 2018 12:50 ET (16:50 GMT)