Energy Sector Receives EGP 266.7 B in Nine Months

Thursday, 25th July 2019
by Mai El Ghandour

Shoubra El-Kheima Power Station, belonging to the North Cairo Electricity Distribution Company, is pictured in Cairo, April 19, 2014. Egypt needs to find at least $5 billion to invest in its dilapidated power grid, a government official told Reuters, highlighting a major challenge for the next president as the country faces the risk of worsening blackouts this summer. Picture taken April 19, 2014. REUTERS/Amr Abdallah Dalsh (EGYPT – Tags: ENERGY ENVIRONMENT SOCIETY BUSINESS) – RTR3MB4W

A total of 12 projects have been implemented in the energy sector in the first nine months of fiscal year (FY) 2018/2019 with a cost of EGP 266.7 billion, Al-Ahram reported.

This was announced in a report by the Ministry of Planning, Monitoring and Administrative Reform on the results of the projects implemented during the first nine months of FY 2018/2019.

According to the report, 82 projects have been implemented in the energy sector in Q3 of FY 2018/2019 with a cost of EGP 63.5 billion.

Five of these projects in Q3 of FY 2018/2019 were allocated to the petroleum sector with a cost of EGP 47.5 billion, representing 75% of the total amount.

Meanwhile, 192 projects have been implemented in the electricity sector in the first nine months of FY 2018/2019 with a cost of EGP 68.23, down from 77 projects in Q3 of FY 2018/2019 with a cost of EGP 15.9 billion, accounting for 25% of the total amount.