Cairo – Mubasher: A consortium of Elsewedy Electric Co and Arab Contractors have received the preliminary approval to commence the construction of a hydroelectric power plant in Tanzania.

The alliance previously submitted an offer to the global competitive tender to build a 2,115-megawatt hydroelectric power plant at Stiegler's Gorge Hydroelectric Power Station in Tanzania, Elsewedy said in a filing to the Egyptian Exchange (EGX) on Monday.

The final value of the project has not been set yet, the Egyptian cable maker indicated.

In July, CEO of Elsewedy Electric Ahmed El Sewedy revealed that the company would partner with Arab Contractors and other firms to compete for the construction of a hydroelectric dam in Tanzania.

The dam will be built with up to $3 billion in investments, to be arranged by the Tanzanian government, the Arab world's largest listed cable company added.

Tanzania is looking to build the biggest hydroelectric dam in East Africa over the Rufiji River.