Egypt has allocated EGP 3.82b for the laying of distribution lines, building of transformers, and cables of medium and low voltage, plans that are expected to take effect this year, a source at the Egyptian Electricity Holding Company (EEHC) told Daily News Egypt.
The plan includes an investment of EGP 24.8m for building 79 medium-voltage dispensers, EGP 234.9b for the building of a 1,375km long medium voltage network lines and EGP 1.2b for 3,498km long cables, EGP 350m for the expansion of low-voltage grid by 3,504km long of lines, EGP 272m for the laying of 2,271km long cables. In addition, the EEHC also intends to contract for 1,036 distribution transformers, 9,120 capacity distribution transformers with a total value of EGP 1.6bn, and 6,347 low voltage transformers.
The move comes as a part of the Ministry of Electricity’s plan to improve efficiency of the country’s infrastructure, saving fuel consumption.
The project is financed by a recent consortium loan led by the National Bank of Egypt (NBE), and includes 9 other banks, securing the company EGP 10b; the loan period extends over 15 years worth of development, according to Daily News Egypt