Italcementi SpA has signed a memorandum of understanding (MoU) with the government of Egypt for the construction of a 120MW wind park in the coastal town of El-Zaafarana, where the government has agreed to allocate land.

The company will invest some US$200m (EUR160.6m) in the plant, starting construction in the 2Q15, said Omar Mehanna, chairman of Italcementi’s Suez Cement Co, as cited by Ahram Online.

Once the wind farm is completed at the end of 2015, Italcementi will consider the construction of another 200MW wind park, investing a further US$330m, Mehanna told the news website.