The Cabinet approved Tuesday a contract to be signed between the Egyptian Electricity Holding Company and Siemens Global to establish, import and install three combined-cycle power plants at a total capacity of 14,400 megawatts annually.

The Cabinet also agreed that the new energy development authority and Siemens Global sign a contract to establish and operate wind power stations at a total capacity of 2,000 megawatts annually.

The government will also have Siemens Global build a wind turbine blades factory at a total capacity 340 megawatts annually.

The three contracts are estimated to cost about eight billion euros.