The Egyptian Electricity Transmission Company (EETC) signed two contracts with Siemens Egypt at a cost of EGP 21 million, Al Ahram reported.

The first contract includes the supply and installation of communications equipment for the new 6th October transformer station, while the second contract is for the 10th of Ramadan transformer station in order to connect them to the other stations.

The two projects are financed by the European Investment Bank and the duration of each project is 10 months from the date of signing the contract.

Moreover, an official source in EETC told Al Mal that the company signed contracts for the implementation and establishment of projects worth more than EGP 6 billion, during the period from January to June 2019.

The company also plans to invest up to EGP 19.55 billion during fiscal year (FY) 2019/20, to develop and modernize the Egyptian power grid.