Egypt to invest $110 billion Dollars in electricity infrastructures
15 April 2010
The Egyptian Minister of Electricity, Hassan Younès, announced on Monday 12 April that the government is going to invest 110 billion Dollars between now and 2027 in Egypt in the electricity sector.
Egypt’s ambition is to achieve a production of 58,000 megaWatts and the reinforcement of the distribution networks, as the daily Al-Ayam al-Youm reports.
The Minister added that the investments will be made within the framework of a public-private partnership arrangement, and will relate in particular to the construction of a thermal power station with a capacity of 1500 megaWatts, as well as projects involving renewable energy sources such as a 250 megaWatt wind farm.
As well as this, the African Development Bank is going to loan 225 million Dollars, with a possible extension of 80 million USD on request, to the Cairo refining company in order to increase the capacities of the oil refinery.