The Ministry of Electricity has received five offers from Arab and international companies for the maintenance of components of the national electricity grid, said Egyptian Electricity Holding Company (EEHC) Chairperson, Gaber Dessouky, Daily News Egypt reported. A committee formed by the EEHC, comprising a number of engineers and experts, is studying the offers.

According to Dessouky, the companies are Korean, Egyptian, Emirati, German, and French.

In addition, he explained that the EEHC is considering the establishment of a new company with investments worth EGP 100m to carry out maintenance of the national grid units, in addition to more than 220 generation units. The cost of power plants maintenance is EGP 6b per annum, the Chairperson noted.

Previously, Dessouky had told Daily News Egypt that the Ministry of Electricity and Renewable Energy agreed with NI Capital company to promote and cover the initial public offering (IPO) to establish four companies for electricity production in June. Three of the companies are for electricity projects implemented by the German company Siemens in Borollos, the New Administrative Capital, and Beni Suef, said the EEHC Chairman.