O Capital for Energy signs Cost Sharing Agreement

O Capital for Energy, a Subsidiary of OTMT, signs Cost Sharing Agreement with the Egyptian Electricity Transmission Company and the New and Renewable Energy Authority for the Construction of a Solar Energy Power Plant

Cairo, December 3rd, 2015, Orascom Telecom Media and Technology Holding S.A.E ("OTMT") announced today that it's fully owned subsidiary O Capital for Energy S.A.E ("O Capital") has signed the Cost Sharing Agreement with the Egyptian Electricity Transmission Company S.A.E ("EETC") and the New and Renewable Energy Authority ("NREA") this week under the feed in tariff Solar PV in the Benban Project. This agreement entails the rights and obligations in respect of the project's relevant infrastructure works and OTMT's obligation to pay its share of the cost of constructing the Infrastructure Works in exchange for the right to participate in the FiT Program.

OTMT plans to participate in the FiT Program by designing, procuring, constructing, erecting, installing, testing, commissioning, financing, owning, operating and maintaining its Solar Energy power plant Project in Binban

 This Agreement constitutes an important step towards OTMT reaching an agreement to own and operate an electricity power plant using solar energy within the feed-in Tariff (FIT) program, which will be its gateway into a promising Renewable Energy sector in Egypt.

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About OTMT

OTMT is a holding company that has investments in companies with operations mainly in Egypt, North Korea, Lebanon, Pakistan and other North African and Middle-Eastern countries. The activities of OTMT are mainly divided into its GSM, Media and Technology, and Cable businesses, having recently expanded its lines of operations into the new fields of Energy, Transport & Logistics, and Telecom infrastructure. The GSM activities include mobile telecommunications operations in Egypt, North Korea and Lebanon. The Cable business focuses on the management of cable networks. The new field of Energy includes its operations in the power projects in Egypt.

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