The Egyptian Minister of Electricity and Renewable Energy, Mohamed Shaker, signed an investment agreement with China to boost the capacity of the electricity local grid as a part of the second phase of the Egyptian project aiming to increase the Egyptian electricity grid’s capacity, reported Amwal Al Ghad.
The agreement for the second phase aims to complete the electricity systems represented in production, transportation, and distribution, in order to boost service standard, Shaker said.
The signing was attended by Minister of Transportation, Hesham Arafat.
The $1 billion worth project is a part of the Egyptian-Chinese investment partnership and aims to continue cooperation between the electricity ministry and Chinese firms with experience in transporting and distributing electricity, Minister of Investments and International Cooperation, Sahar Nasr, said, adding that the two sides will put work plan to execute projects among the Egyptian-Chinese electricity investing partnership.
The ministry of investment supports the national electricity grid through injected investments in the electricity sector, and through securing required funds from Egypt’s development partners, Nasr pointed out.