Egypt’s electricity industry is reportedly in need of investment funds, totaling three billion Egyptian pounds ($702.6 million) annually, if it is to finance a subsidy program ensuring electricity supply to low-income families, according to Al-Ahram daily.
The Egyptian government will provide over half this amount, EP 1.6 billion, stated Minister of Electricity and Energy Ali Al-Saidi. The minister added that several new projects were recently launched to meet growing domestic electricity demand. Annual growth rate of electricity consumption in Egypt is estimated at seven percent.
New electricity generation station, situated in the north Suez Gulf, east Port Said and Sidi Krir, will produce 2,000 megawatts of electrical power. Total investments in these projects are estimated at $1.2 billion. — (Mena Report)
© 2001 Mena Report (www.menareport.com)
